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The industrial output came in at +7.8% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 10.0% rebound expected and -17.9% last.

In the last hour, the IFO institute said its production index climbed to 4.3 points in June from -19.5 in May, marking the second-biggest increase since German reunification three decades ago.

About German Industrial Production

The Industrial Production released by the Statistisches Bundesamt Deutschland measures outputs of the German factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).