Investing.com – Industrial production in Germany rose significantly more-than-expected in October, official data showed on Wednesday.
In a report, Destatis, Germany’s federal statistical office said industrial production rose by a seasonally adjusted 2.9% in October, after falling by 1.0% September, whose figure was revised from a decline of 0.8%.
Analysts had expected German industrial production to rise by 1.0% in October.
The report said that year-on-year, German industrial production rose by 11.7% in October, after rising by 7.7% in September.
Analysts had expected industrial production to rise at an annualized rate of 10.0% in October.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.16% to hit 1.3239.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 rose 0.12%, France’s CAC 40 was up 0.13%, Germany's DAX shed 0.24%, while the FTSE 100 declined 0.11%.
In a report, Destatis, Germany’s federal statistical office said industrial production rose by a seasonally adjusted 2.9% in October, after falling by 1.0% September, whose figure was revised from a decline of 0.8%.
Analysts had expected German industrial production to rise by 1.0% in October.
The report said that year-on-year, German industrial production rose by 11.7% in October, after rising by 7.7% in September.
Analysts had expected industrial production to rise at an annualized rate of 10.0% in October.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.16% to hit 1.3239.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 rose 0.12%, France’s CAC 40 was up 0.13%, Germany's DAX shed 0.24%, while the FTSE 100 declined 0.11%.