April 29, 2024

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Urgent: The euro rises after German industrial production data

Urgent: The euro rises after German industrial production data

German industrial production data for December has just been released. The report was expected to show a 0.4% month-on-month decline in seasonally adjusted industrial production data. Actual data showed a much deeper decline of 1.6% on a monthly basis. On an annual basis, production decreased by 3.0% year-on-year.

Germany industrial production for December:

  • monthly (Seasonally adjusted): -1.6% m/m vs. -0.4% m/m expected (-0.7% m/m previously).
  • annual (Adjusted for business days): -3.0% y/y vs. -2.4% y/y expected (-4.8% y/y previously).

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