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German Industrial Production drops 0.8% MoM in July vs. -0.5% expected – Crypto News
The official data showed on Thursday that the German Industrial Production fell more than expected in July, pointing to further weakness in the country’s manufacturing sector activity.
Industrial output in the Eurozone’s economic powerhouse dropped 0.8% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. -0.5% expected and -1.4% previous.
Annually, Germany’s Industrial Production declined 2.1% in July when compared to a 1.5% drop in June.
FX implications
The shared currency remains vulnerable against the US Dollar after weak German industrial figures. The pair is losing 0.07% on the day to trade at 1.0719, as of writing.
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