Investing.com – Industrial production in Germany fell more-than-expected in November, dropping for the third time in the last four months, official data showed on Monday.
In a report, Destatis, Germany’s federal statistical office said industrial production slumped by a seasonally adjusted 0.6% in November, disappointing expectations for a of 0.5% decline.
Industrial production rose by an unrevised 0.8% in October.
German industrial production rose at an annualized rate of 3.6% in November, falling short of expectations for a 3.9% increase, after rising at a rate of 4.2% in October.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD gaining 0.26% to trade at 1.2752.
Meanwhile, European stock markets held on to losses. The EURO STOXX 50 dipped 0.3%, France’s CAC 40 shed 0.25%, London’s FTSE 100 edged down 0.25%, while Germany's DAX slumped 0.5%.
In a report, Destatis, Germany’s federal statistical office said industrial production slumped by a seasonally adjusted 0.6% in November, disappointing expectations for a of 0.5% decline.
Industrial production rose by an unrevised 0.8% in October.
German industrial production rose at an annualized rate of 3.6% in November, falling short of expectations for a 3.9% increase, after rising at a rate of 4.2% in October.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD gaining 0.26% to trade at 1.2752.
Meanwhile, European stock markets held on to losses. The EURO STOXX 50 dipped 0.3%, France’s CAC 40 shed 0.25%, London’s FTSE 100 edged down 0.25%, while Germany's DAX slumped 0.5%.