Investing.com - Industrial production in Germany fell unexpectedly in October, fuelling concerns over the health of the euro zone’s largest economy, official data showed on Monday.
In a report, Destatis, Germany’s federal statistical office said industrial production declined by a seasonally adjusted 1.2% in October, disappointing expectations for a 0.8% gain. Industrial production for September was revised to a 0.7% decline from a previously reported drop of 0.9%.
German industrial production rose at an annualized rate of 1% in October, below expectations for a 3.1% gain, after climbing 0.6% in September.
Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD easing up 0.04% to trade at 1.3709.
Meanwhile, European stock markets remained mostly lower. The EURO STOXX 50 fell 0.05%, France’s CAC 40 dipped 0.2%, Germany's DAX inched up 0.15%, while London’s FTSE 100 declined 0.15%.
In a report, Destatis, Germany’s federal statistical office said industrial production declined by a seasonally adjusted 1.2% in October, disappointing expectations for a 0.8% gain. Industrial production for September was revised to a 0.7% decline from a previously reported drop of 0.9%.
German industrial production rose at an annualized rate of 1% in October, below expectations for a 3.1% gain, after climbing 0.6% in September.
Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD easing up 0.04% to trade at 1.3709.
Meanwhile, European stock markets remained mostly lower. The EURO STOXX 50 fell 0.05%, France’s CAC 40 dipped 0.2%, Germany's DAX inched up 0.15%, while London’s FTSE 100 declined 0.15%.