Investing.com – Industrial production in Germany rose significantly more-than-expected in July, official data showed on Wednesday.
In a report, Destatis, Germany’s federal statistical office said industrial production climbed by a seasonally adjusted 4.0% in July, blowing past expectations for a 0.5% gain.
June’s figure was revised to a decline of 1.0% from a previously reported 1.1% drop.
Year-on-year, German industrial production rose at an annualized rate of 10.1% in July, significantly higher than expectations for a 6.5% increase, after rising at a rate of 6.6% in June.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.55% to trade at 1.4077.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 jumped 2.4%, France’s CAC 40 surged 2.35%, Germany's DAX rallied 2.55% higher, while the FTSE 100 climbed 1.85%.
In a report, Destatis, Germany’s federal statistical office said industrial production climbed by a seasonally adjusted 4.0% in July, blowing past expectations for a 0.5% gain.
June’s figure was revised to a decline of 1.0% from a previously reported 1.1% drop.
Year-on-year, German industrial production rose at an annualized rate of 10.1% in July, significantly higher than expectations for a 6.5% increase, after rising at a rate of 6.6% in June.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.55% to trade at 1.4077.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 jumped 2.4%, France’s CAC 40 surged 2.35%, Germany's DAX rallied 2.55% higher, while the FTSE 100 climbed 1.85%.