German Industrial Production jumps by 2.8% MoM in October

Industrial Production in Germany showed a solid rebound in October, the official data showed on Tuesday, suggesting that the recovery in the manufacturing sector is gaining momentum.

Eurozone’s economic powerhouse’s industrial output climbs by 2.8% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 0.8% rise expected and -1.1% last.

On an annualized basis, the German industrial production fell by 0.6% in October versus +8.8% expected and a 1.0% decrease registered in September.

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About German Industrial Production

The Industrial Production released by the Statistisches Bundesamt Deutschland measures outputs of the German factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).