German Industrial Output Suffers in July, Comes in Worse Than Expected - Forex News by FX Leaders

German Industrial Output Suffers in July, Comes in Worse Than Expected

Posted Wednesday, August 7, 2019 by
Arslan Butt • 1 min read

Things are not looking so good for Germany and the Eurozone. Germany, Eurozone’s leading economy, posted worse than expected industrial output figures for the month of June, giving rise to more worries of a possible recession.

According to data released by the Statistics Office, German industrial output fell by 1.5% in June, while expectations were for a 0.4% decline. For Q2 2019 overall, industrial output has fallen by 1.8% QoQ, according to the economic ministry.

So far, expectations were that the German industrial sector had stagnated in the second quarter of 2019, but recent economic data points to a possible shrinking of this sector. Amid rising trade tensions, slowing of leading economies globally, and Brexit uncertainties, German economy has experienced quite the setback. As of now, the German government expects that its economy will grow at 0.5% this year and possibly at 1.5% in 2020.

On Wednesday, EUR/USD continues to trade weakly, touching around 1.20 at the time of writing.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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