German Industrial Production declines 1.1% MoM in July, vs. 0.3% expected
Germany’s Industrial Production declined 1.1% Month-on-Month (MoM) in July, the latest data published by Destatis showed on Monday. This figure came in below the market consensus of a 0.3% growth and slower than the previous reading of 0% (revised from 0.2%).
Germany's industrial production declined by 1.1% in July, falling below market expectations of a 0.3% growth and below the previous reading of 0%. Year-over-year, the industrial sector activity decreased by 1.6% in July, according to data from Germany's federal statistics authority, Destatis. The Euro, which serves as the currency for the Eurozone, saw a slight dip following the release of the industrial production data.
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