According to the official data published on Monday, Germany’s Industrial Production declined more than expected in August, suggesting sluggish manufac
turing sector activity. Industrial output in the Eurozone’s economic powerhouse dropped 0.2% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal andcalendareffects, vs. -0.1% expected and -0.6% seen in July.
On an annual basis, German Industrial Production fell 2.0% in August when compared to a 1.7% drop in July. FX implications The shared currency remains on the back foot against the US Dollar after mixed German industrial figures. The pair is losing 0.32% on the day to trade at 1.0551, as of writing.
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