Investing.com - Industrial production in Germany rose more-than-expected in November, fuelling optimism over the health of the euro zone’s largest economy, official data showed on Thursday.
In a report, Destatis, Germany’s federal statistical office said industrial production climbed by a seasonally adjusted 1.9% in November, beating expectations for a 1.5% gain. Industrial production fell 1.2% in October.
German industrial production rose at an annualized rate of 3.5% in November, above forecasts for a 3% gain, after advancing 1.1% in October.
Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD rising 0.27% to trade at 1.3613.
Meanwhile, European stock markets held on to gains. The EURO STOXX 50 advanced 0.85%, France’s CAC 40 added 0.35%, Germany's DAX inched up 0.45%, while London’s FTSE 100 tacked on 0.3%.
In a report, Destatis, Germany’s federal statistical office said industrial production climbed by a seasonally adjusted 1.9% in November, beating expectations for a 1.5% gain. Industrial production fell 1.2% in October.
German industrial production rose at an annualized rate of 3.5% in November, above forecasts for a 3% gain, after advancing 1.1% in October.
Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD rising 0.27% to trade at 1.3613.
Meanwhile, European stock markets held on to gains. The EURO STOXX 50 advanced 0.85%, France’s CAC 40 added 0.35%, Germany's DAX inched up 0.45%, while London’s FTSE 100 tacked on 0.3%.