Latest data released by Destatis - 7 February 2020
- Prior +1.1%; revised to +1.2%
- Industrial production WDA -6.8% vs -3.7% y/y expected
- Prior -2.6%; revised to -2.5%
That is one ugly report, which follows the more subdued factory orders release seen yesterday here as well. This just reaffirms that any uptick in sentiment in the industrial sector needs more convincing as the hard data does not suggest an imminent recovery just yet.
The euro is still hanging on for now but the only bright side I can think of is that this pertains to Q4 data. But if this continues into the new year, it may spell trouble for the currency and derail the recently more positive outlook.
