Eurozone Industrial Production drops by 0.2% MoM in September vs. -0.5% expected
Eurozone’s Industrial Production in Germany showed a smaller-than-expected decrease in September, the official data published by Eurostat showed on Friday, suggesting that the recovery in the manufacturing sector could be gaining traction.
The industrial output in the bloc arrived at -0.2% MoM vs. a 0.5% drop expected and -1.6% last.
On an annualized basis, the industrial output rose by 5.2% in September versus a 4.1% increase expected and August’s 5.1%.
FX implications
The shared currency fails to benefit from upbeat industrial figures.
At the time of writing, EUR/USD loses 0.07% on the day to trade at 1.1443, with the bearish momentum intact amid US inflation woes-backed broad US dollar strength.
About Eurozone Industrial Production
Industrial Production is released by Eurostat. It shows the volume of production of Industries such as factories and manufacturing. Uptrend is regarded as inflationary which may anticipate interest rates to rise. Usually, if high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the EUR, while low industrial production is seen as a negative sentiment (or bearish).
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