Investing.com – Industrial production in Germany rose more-than-expected in February, official data showed on Thursday.
In a report, Destatis, Germany’s federal statistical office said industrial production rose by a seasonally adjusted 1.6% in February, after jumping by 2% in January, whose figure was upwardly revised from a 1.6% gain.
Analysts had expected industrial production to rise by 0.5% in February.
The report said that year-on-year, German industrial production rose at an annualized rate of 14.8% in February, after rising at a rate of 12.7% in January. Analysts had expected industrial production to rise at an annualized rate of 13.2% in February.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.35% to hit 1.4281.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 gained 0.29%, France’s CAC 40 was up 0.21%, Germany's DAX edged 0.03% lower, while the FTSE 100 slipped 0.06%.
In a report, Destatis, Germany’s federal statistical office said industrial production rose by a seasonally adjusted 1.6% in February, after jumping by 2% in January, whose figure was upwardly revised from a 1.6% gain.
Analysts had expected industrial production to rise by 0.5% in February.
The report said that year-on-year, German industrial production rose at an annualized rate of 14.8% in February, after rising at a rate of 12.7% in January. Analysts had expected industrial production to rise at an annualized rate of 13.2% in February.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.35% to hit 1.4281.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 gained 0.29%, France’s CAC 40 was up 0.21%, Germany's DAX edged 0.03% lower, while the FTSE 100 slipped 0.06%.