Market Updates: German Industrial Production Dips Unexpectedly to -1.9%
Arslan Butt • 1 min read
German industrial production surprisingly sank in November, adding to recent signs that a nine-year recovery in Europe’s largest economy is failing.
Production in Germany’s key industrial sector, adjusted for inflation and seasonal fluctuations, plunged 1.9% in November from the previous month. The figure is way less than the economist forecast of 0.3%. However, the single currency Euro has stabilized after the release, and the EUR/USD is steady at $1.1444 for now.