Investing.com - Industrial production in Germany fell for the second consecutive month in February, a day after data showed that factory orders also missed expectations, official data showed on Thursday.
In a report, Destatis, Germany’s federal statistical office said industrial production dropped by a seasonally adjusted 1.3% in February, compared to expectations for a decline of 0.5%.
Industrial production for January was revised down to a 1.2% gain from a previously reported increase of 1.6%.
German industrial production fell at an annualized rate of 1.0% in February, defying expectations for a 0.5% increase, after rising at a rate of 1.8% in January.
The report came a day after a report showed German factory orders rose by 0.3% in February, below expectations for a 1.2% increase.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.6% to trade at 1.3063.
Meanwhile, European stock markets added to sharp losses. The EURO STOXX 50 tumbled 1.45%, France’s CAC 40 dropped 0.95%, London’s FTSE 100 declined 0.7%, while Germany's DAX sank 1.4%.
In a report, Destatis, Germany’s federal statistical office said industrial production dropped by a seasonally adjusted 1.3% in February, compared to expectations for a decline of 0.5%.
Industrial production for January was revised down to a 1.2% gain from a previously reported increase of 1.6%.
German industrial production fell at an annualized rate of 1.0% in February, defying expectations for a 0.5% increase, after rising at a rate of 1.8% in January.
The report came a day after a report showed German factory orders rose by 0.3% in February, below expectations for a 1.2% increase.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.6% to trade at 1.3063.
Meanwhile, European stock markets added to sharp losses. The EURO STOXX 50 tumbled 1.45%, France’s CAC 40 dropped 0.95%, London’s FTSE 100 declined 0.7%, while Germany's DAX sank 1.4%.