German industrial production slips 1 in December.6%, extending the eighth consecutive month of decline, in line with the weak demand environment。U.S. trade data and speeches by Federal Reserve spokesmen Thomas Barkin, Susan Collins and Adriana Kugler will be watched next.。

German economy in focus on Feb. 7 after unexpected jump in factory orders。

The German economy is in recession.

German industrial production fell 1 in December, statistics show.6%, November has dropped 0.2%; economists expect industrial production to fall 0.4%。However, compared with the same period last year, industrial production fell by 3% in December..13%, compared with a drop of 4 in November..37%。

Germany's economic indicators continue to point to a recession in the country's economy in the first quarter of 2024。German factory orders unexpectedly up 8 in December.9%, stagnation in November。However, Germany's trade data pointed to a sharp deterioration in the demand environment, and January's purchasing managers' index (PMI) data also showed a contraction in the private sector.。

Fears are growing that the German economy could drag the eurozone economy into recession。The weaker-than-expected data further boosted investors' expectations of an ECB rate cut in April.。

Industrial production data further supports first-quarter recession expectations。However, the rise in factory orders may bring some relief to the market ahead of January production figures.。

EUR / USD reaction

EUR / USD falls to 1 before German industrial production data.Low of $07487, then rises to 1.High of $07664。

However, affected by the data, the euro / dollar exchange rate fell to 1.Low of $07609, then rises to 1.High of $07673。

On February 7, the euro / dollar exchange rate rose 0.12%, reported 1.07670 USD。