Germany's Industrial Production unexpectedly rises faster-than-expected by 0.9% MoM in May
Germany’s industrial sector activity surprisingly grow at a faster pace of 0.9% Month-on-Month (MoM) in May, the latest data published by Destatis showed on Tuesday. The Industrial Producer in the Eurozone’s largest powerhouse was estimated to rise at a moderate pace of 0.2% against the previous reading of 0.4%.
Market reaction
No immediate response by the Euro (EUR) was observed after the German Industrial Production data release. At press time, EUR/USD trades marginally lower to near 1.1430.
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