German May industrial production has come in at +3.7% m/m, much stronger than the median forecast of +0.5%. It should be noted that April’s data was revised downward to -2.6 from initial -1.9%, but it’s still impressive data. The rise is the strongest since August 1993.
The German Economy Ministry says industry output appears to have broken the downward trend. Yes, looks like it.
EUR/USD has been unable to garner any real extended lift from the data, presently at 1.3925 having been as high as 1.3938
