Investing.com - Industrial production in Germany rose significantly more-than-expected in June, easing concerns over the impact the euro zone’s debt crisis is having on the region’s largest economy, official data showed on Wednesday.
In a report, Destatis, Germany’s federal statistical office said industrial production jumped by a seasonally adjusted 2.4% in June, easily surpassing expectations for a 0.3% increase.
Industrial production for May was revised up to a 0.8% decline from a previously reported drop of 1%.
German industrial production rose at an annualized rate of 2% in June, compared to expectations for a 0.3% decline, after falling 1.2% in May.
Following the release of that data, the euro trimmed losses against the U.S. dollar, with EUR/USD dipping 0.09% to trade at 1.3293.
Meanwhile, European stock markets were lower. The EURO STOXX 50 shed 0.2%, France’s CAC 40 inched down 0.3%, Germany's DAX shed 0.6%, while London’s FTSE 100 slumped 0.9%.
In a report, Destatis, Germany’s federal statistical office said industrial production jumped by a seasonally adjusted 2.4% in June, easily surpassing expectations for a 0.3% increase.
Industrial production for May was revised up to a 0.8% decline from a previously reported drop of 1%.
German industrial production rose at an annualized rate of 2% in June, compared to expectations for a 0.3% decline, after falling 1.2% in May.
Following the release of that data, the euro trimmed losses against the U.S. dollar, with EUR/USD dipping 0.09% to trade at 1.3293.
Meanwhile, European stock markets were lower. The EURO STOXX 50 shed 0.2%, France’s CAC 40 inched down 0.3%, Germany's DAX shed 0.6%, while London’s FTSE 100 slumped 0.9%.