German industrial production for February fell -2.9% m/m and -23.2% y/y (vs median expectations of -3.0% and -21.7% respectively.) The seasonally adjusted month on month fall was the 6th in a row, while the annual fall was the biggest since reunification in 1990.
The Economy Ministry says a recent slump in orders points to further weakness in output in coming months.
EUR/USD sits at 1.3285, lacking any real clear directon today. Seems fairly well-underpinned though.
