Forexpros – Industrial production in Germany fell significantly more-than-expected in April, fuelling concerns over the impact of the ongoing sovereign debt crisis on the region’s largest economy, official data showed on Wednesday.
In a report, Destatis, Germany’s federal statistical office said industrial production fell by a seasonally adjusted 2.2% in April, compared to expectations for a more modest 1.0% decline.
Industrial production for March was revised down to a 2.2% gain from a previously reported increase of 2.8%.
German industrial production fell at an annualized rate of 0.7% in April, defying expectations for a 0.9% increase.
March’s figure was revised to a 1.4% gain from a previously reported 1.6% increase.
Following the release of the data, the euro trimmed gains against the U.S. dollar, with EUR/USD adding 0.34% to trade at 1.2494.
Meanwhile, European stock markets remained sharply higher. The EURO STOXX 50 surged 2%, France’s CAC 40 rallied 1.9%, Germany’s DAX shot up 1.5%, while London’s FTSE 100 jumped 1.2%.
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