Forex Pros – Industrial production in the euro zone rose declined unexpectedly in March, official data showed on Thursday.
In a report, Eurostat, the European statistics agency said industrial production fell by a seasonally adjusted -0.2% in March, after rising by 0.6% in February, whose figure was upwardly revised from 0.4%.
Analysts had expected industrial production in the euro zone to rise by 0.4%.
The data showed that year-on-year, the rate of industrial production rose less-than-expected, increasing at an annualized rate of 5.3% in February, missing expectations for an increase of 6.3%.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.07% to hit 1.4181.
Meanwhile, European stock markets were sharply lower. The EURO STOXX 50 tumbled 1.35%, France’s CAC 40 dropped 1.4%, Germany’s DAX slumped 1.5%, while the FTSE 100 fell 1.1%.
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