German Industrial Production declines 0.3% MoM in February vs. 0.9% expected

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

Industrial Output, in the Eurozone’s economic powerhouse, declined by 0.3% over the month in February, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, compared with the expected 0.9% rise and 0% recorded in January (revised from -0.5%).

Annually, the German Industrial Production came in at 0% in the same period, following January’s revised a 0.9% decrease.

EUR/USD reaction to the German Industrial Production data

At the press time, the EUR/USD pair remains weak near 1.1660, down 0.02% on the day.