German Industrial Production rises by 02% MoM in February, beats estimates

Industrial Production in Germany rose more than expected in February, the official data showed on Thursday, suggesting that the manufacturing sector activity is on a gradual recovery.

Eurozone’s economic powerhouse’s industrial output climbed by 0.2% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 0.0% expected and 1.4% last.

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About German Industrial Production

The Industrial Production released by the Statistisches Bundesamt Deutschland measures outputs of the German factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).