Germany’s industrial sector contracted more than anticipated in April, official data from Destatis revealed on Friday.
The Eurozone’s largest economy saw industrial output fall 1.4% month-over-month (MoM), adjusted for seasonal and calendar variations. This decline exceeded forecasts of a 1% drop and followed a revised 2.3% growth in March.
On an annual basis, German industrial production contracted by 1.8% year-over-year (YoY) in April, deepening from the previously reported 0.7% decline in March.
Additionally, Germany’s trade balance for April stood at EUR 14.6 billion, falling short of expectations for EUR 20.2 billion and down from EUR 21.2 billion recorded in the prior month.
In response to the weaker-than-expected industrial data, the EUR/USD currency pair remained cautious, trading just below the 1.1450 mark with minimal movement at the time of reporting.
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