Investing.com – Industrial production in Germany fell significantly more-than-expected in September, official data showed on Monday.
In a report, Destatis, Germany’s federal statistical office said industrial production dropped by a seasonally adjusted 2.7% in September, disappointing expectations for a 0.7% decline.
The previous month’s figure was revised to a decline of 0.4% from a previously reported 1.0% drop.
Year-on-year, German industrial production rose at an annualized rate of 5.4% in September, falling short of expectations for a 7.2% increase, after rising at a rate of 8.4% in August.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.31% to trade at 1.3751.
Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 slumped 0.75%, France’s CAC 40 fell 0.45%, the FTSE 100 declined 0.75%, while Germany's DAX edged 0.4% lower.
In a report, Destatis, Germany’s federal statistical office said industrial production dropped by a seasonally adjusted 2.7% in September, disappointing expectations for a 0.7% decline.
The previous month’s figure was revised to a decline of 0.4% from a previously reported 1.0% drop.
Year-on-year, German industrial production rose at an annualized rate of 5.4% in September, falling short of expectations for a 7.2% increase, after rising at a rate of 8.4% in August.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.31% to trade at 1.3751.
Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 slumped 0.75%, France’s CAC 40 fell 0.45%, the FTSE 100 declined 0.75%, while Germany's DAX edged 0.4% lower.