German Industrial Production falls 0.7% MoM in March vs. 0.5% expected

Germany’s industrial sector activity fell sharply in March, the latest data published by Destatis showed on Friday.

Industrial Output, in the Eurozone’s economic powerhouse, fell by 0.7% over the month in March, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, compared with the expected 0.5% rise and a decline of 0.5% recorded in February (revised from -0.3%).

Annually, the German Industrial Production came in at -2.8% in the same period, following February’s revised a 0.2% decrease.

EUR/USD reaction to the German Industrial Production data

At the press time, the EUR/USD pair remains firm near 1.1738, up 0.11% on the day.