German Industrial Production drops 1.0% MoM in October vs. +1.2% expected

Germany’s industrial sector extended its downtrend in October, according to the latest data published by Destatis on Friday.

In the Eurozone’s economic powerhouse, industrial output dropped by 1.0% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, compared to the expected 1.2% rebound and a revised 2.0% decline in September.