Investing.com - Industrial production in Germany fell significantly more-than-expected in September, fuelling concerns over the impact of the ongoing sovereign debt crisis on the region’s largest economy, official data showed on Wednesday.
In a report, Destatis, Germany’s federal statistical office said industrial production fell by a seasonally adjusted 1.8% in September, compared to expectations for a 0.5% decline.
Industrial production for August was revised to a 0.4% drop from a previously reported decline of 0.5%.
German industrial production fell at an annualized rate of 1.2% in September, defying expectations for a 0.1% increase, after falling by a revised 1.4% in August.
Following the release of the data, the euro trimmed gains against the U.S. dollar, with EUR/USD adding 0.16% to trade at 1.2835.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.6%, France’s CAC 40 gained 0.7%, Germany's DAX increased 0.5%, while London’s FTSE 100 edged 0.5% higher.
In a report, Destatis, Germany’s federal statistical office said industrial production fell by a seasonally adjusted 1.8% in September, compared to expectations for a 0.5% decline.
Industrial production for August was revised to a 0.4% drop from a previously reported decline of 0.5%.
German industrial production fell at an annualized rate of 1.2% in September, defying expectations for a 0.1% increase, after falling by a revised 1.4% in August.
Following the release of the data, the euro trimmed gains against the U.S. dollar, with EUR/USD adding 0.16% to trade at 1.2835.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.6%, France’s CAC 40 gained 0.7%, Germany's DAX increased 0.5%, while London’s FTSE 100 edged 0.5% higher.