Investing.com – Industrial production in Germany fell unexpectedly in December, declining for the second consecutive month, official data showed on Tuesday.
In a report, Destatis, Germany’s federal statistical office said industrial production fell by a seasonally adjusted 1.5% in December, after dropping by 0.6% in November, whose figure was revised from a decline of 0.7%.
Analysts had expected industrial production to rise by 0.2% in December.
The report said that year-on-year, German industrial production rose by 10% in December, after rising by 11.1% in November. Analysts had expected industrial production to rise at an annualized rate of 11.5% in December.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.30% to hit 1.3625.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 shed 0.10%, France’s CAC 40 was down 0.07%, Germany's DAX rose 0.18%, while the FTSE 100 slid 0.11%.
In a report, Destatis, Germany’s federal statistical office said industrial production fell by a seasonally adjusted 1.5% in December, after dropping by 0.6% in November, whose figure was revised from a decline of 0.7%.
Analysts had expected industrial production to rise by 0.2% in December.
The report said that year-on-year, German industrial production rose by 10% in December, after rising by 11.1% in November. Analysts had expected industrial production to rise at an annualized rate of 11.5% in December.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.30% to hit 1.3625.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 shed 0.10%, France’s CAC 40 was down 0.07%, Germany's DAX rose 0.18%, while the FTSE 100 slid 0.11%.