Eurozone Industrial Production saw an upturn in January, the official data showed on Wednesday, suggesting that the manufacturing sector recovery is gaining traction.

Eurozone’s Industrial Output jumped by 0.7% MoM, the Eurostats said in its latest publication, vs. a 0.4% expected and -1.3% previous print.

On an annualized basis, the old continent’s Industrial Production arrived at 0.9% in January versus a -2.0% figure registered in December and 0.2% estimates.

FX implications

The shared currency failed to derive any comfort from the upbeat German industrial figures amid a broad US Dollar rebound. At the time of writing, EUR/USD is trading at around 1.0676, losing 0.50% on the day.