German Industrial Production Delivers Little EUR Comfort. GDP and Economic Sentiment Up Next
It’s a busy day on the Eurozone economic calendar today.
German industrial production was in focus ahead of Eurozone 2nd quarter GDP and ZEW Economic Sentiment figures for Germany and the Eurozone.
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Industrial Production
In July, industrial production rose by 1.0%, reversing a 1.0% fall from June. Economists had forecast a 0.9% increase.
According to Destatis,
- Production in industry excl. energy and construction was up 1.3%.
- Within industry, the production of capital goods increased 3.2%, with the production of consumer goods up 0.9%.
- By contrast, the production of intermediate goods fell by 0.5%.
- Outside industry, energy production was down 3.2%, while production in construction increased 1.1%.
Market Impact
Ahead of today’s figures, the EUR had risen to a pre-stat and current high $1.18855 before falling to a pre-stat low $1.18708.
In response to today’s stats, the EUR rose to post-stat high $1.18825 before falling to a post-stat and current day low $1.18598.
At the time of writing, the EUR was down by 0.03% to $1.18670.
Next Up
2nd quarter GDP numbers for the Eurozone and ZEW Economic Sentiment figures for Germany and the Eurozone.