German industrial production report for November was released today at 7:00 am GMT. Report was expected to show a month-over-month increase in German production. However, production was still expected to be lower on year-over-year basis.
Actual data turned out to be a big disappointment, with production dropping on an annual as well as on a monthly basis. EUR moved lower following the release, with EURUSD dropping to a fresh daily low below 1.0950 mark.
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- Annual: -4.8% YoY vs -4.0% YoY expected (-3.4% YoY previously)
- Monthly: -0.7% MoM vs +0.2% MoM expected (-0.4% MoM previously)
Source: xStation5
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