German Industrial Production Grows 1.9% in July

German industry has posted its strongest month in almost two and a half years.

The Economy Ministry said industrial production was up 1.9% in July, lifted by an increase in manufacturing and construction output.

It is a big improvement from June when industrial production rose just 0.4%.

It is another piece of strong data from Germany. On Thursday data showed that industrial orders rose at the strongest rate in the more than a year in July.

However last month the ministry released figures to show the economy shrank by 0.2% in the second quarter.

In an effort to avoid further stagnation in Europe, on Thursday the European Central Bank announced a surprise cut in interest rates.

It also launched a programme to buy private sector debt to stimulate lending.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza