Following upbeat German private sector PMI and factory order numbers this week, industrial production was in focus this morning.
German Industrial Production
In June, industrial production fell by 1.3%, month-on-month, following on from a 0.8% decline in May. Economists had forecast a 0.5% rise in the month.
According to Destatis,
- Production in industry excl. energy and construction was down 0.9%.
- Within industry, the production of capital goods fell 2.9%, with the production of intermediate goods declining by 0.9%.
- By contrast, the production of consumer goods jumped 3.4%.
- Outside industry, energy production fell 0.6%, with production in construction declining 2.6%.
- Compared with the same month a year earlier, production was up 5.1%.
- When compared with February 2020, however, production was 6.8% lower.
Ahead of today’s numbers, the EUR had risen to a pre-stat and current day high $1.18360 before falling to a pre-stat and current day low $1.18185.
In response to today’s stats, the EUR fell to a post-stat low $1.18232 before rising to a post-stat high $1.18269.
At the time of writing, the EUR was down by 0.07% to $1.18260.
Trade data from France and industrial production figures from Italy ahead of NFP numbers from the U.S.