The Destatis, Germany’s federal statistical office report claimed that the industrial production rose by 2.8% in March, significantly more-than-expected. Earlier this year expectations were around 0.8% increase for the month of March.Industrial production for February was revised to a 0.3% decline from a previously reported drop of 1.3%. German industrial production rose at an annualized rate of 1.6% in March, defying expectations for a 1.2% decline.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.28% to trade at 1.3015.
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