German Industrial Production declines for fourth straight month The euro has started the week with losses. In the European session, EUR/USD is trading at 1.0
German industrial production declined in August by 0.2%, following a revised -0.6% reading in July and shy of the consensus estimate of -0.1%. This marked a fourth straight decline, pointing to a prolonged slump in the production sector. There was some good news last week as factory orders rose 3.9% in August, but the outlook remains difficult. The manufacturing sector has been stuck in a downturn, with the September Manufacturing PMI coming in at 39.6, which indicates a sharp contraction (the 50 level separates contraction from expansion).
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