Investing.com - Industrial production in Germany fell more-than-expected in May, underlining concerns over the impact the euro zone’s debt crisis is having on the region’s largest economy, official data showed on Monday.
In a report, Destatis, Germany’s federal statistical office said industrial production fell by a seasonally adjusted 1% in May, worse than expectations for a 0.5% decline.
Industrial production for April was revised up to a 2% gain from a previously reported increase of 1.8%.
German industrial production fell at an annualized rate of 1% in May, compared to expectations for a 0.5% decline, after rising by a revised 0.9% in April.
Following the release of that data, the euro held on to gains against the U.S. dollar, with EUR/USD rising 0.11% to trade at 1.2849.
Meanwhile, European stock markets were higher. The EURO STOXX 50 added 1.9%, France’s CAC 40 rose 1.8%, Germany's DAX rallied 2.1%, while London’s FTSE 100 jumped 1%.
In a report, Destatis, Germany’s federal statistical office said industrial production fell by a seasonally adjusted 1% in May, worse than expectations for a 0.5% decline.
Industrial production for April was revised up to a 2% gain from a previously reported increase of 1.8%.
German industrial production fell at an annualized rate of 1% in May, compared to expectations for a 0.5% decline, after rising by a revised 0.9% in April.
Following the release of that data, the euro held on to gains against the U.S. dollar, with EUR/USD rising 0.11% to trade at 1.2849.
Meanwhile, European stock markets were higher. The EURO STOXX 50 added 1.9%, France’s CAC 40 rose 1.8%, Germany's DAX rallied 2.1%, while London’s FTSE 100 jumped 1%.