Investing.com – Industrial production in Germany rose more-than-expected in May, official data showed on Thursday.
In a report, Destatis, Germany’s federal statistical office said industrial production rose by a seasonally adjusted 1.2% in May, above expectations for a 0.7% gain.
The previous month’s figure was revised to a decline of 0.8% from a 0.6% drop.
Year-on-year, German industrial production rose at an annualized rate of 7.6% in May, above expectations for a 7.0% increase, after rising at a rate of 9.6% in April.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.15% to trade at 1.4298.
Meanwhile, European stock markets were higher. The EURO STOXX 50 gained 0.45%, France’s CAC 40 was up 0.55%, Germany's DAX edged 0.45% higher, while the FTSE 100 advanced 0.43%.
In a report, Destatis, Germany’s federal statistical office said industrial production rose by a seasonally adjusted 1.2% in May, above expectations for a 0.7% gain.
The previous month’s figure was revised to a decline of 0.8% from a 0.6% drop.
Year-on-year, German industrial production rose at an annualized rate of 7.6% in May, above expectations for a 7.0% increase, after rising at a rate of 9.6% in April.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.15% to trade at 1.4298.
Meanwhile, European stock markets were higher. The EURO STOXX 50 gained 0.45%, France’s CAC 40 was up 0.55%, Germany's DAX edged 0.45% higher, while the FTSE 100 advanced 0.43%.