Germany October industrial production -1.4% vs +0.9% m/m expected
Latest data released by Destatis 7 Dec 2017
- Prior m/m reading revised to -0.9% from -1.6%
- October industrial production y/y +2.7% vs +4.3% expected
- Prior y/y reading revised to +4.1% from +3.6%
The number has been known to be volatile over the years, so don't look too much into the drop - but against expectations this is a bit of a downside surprise. But again, not a major data point to affect the EUR.
The drag is mainly due to a fall in production of capital goods and consumer goods. Meanwhile, energy production was up for the month.
Full report by Destatis here.
EUR/USD is still trading near session lows on the day, now at 1.1789.