Industrial Production in Germany slowed its pace of increase in February, the official data showed on Thursday, suggesting that the manufacturing sector recovery is losing steam yet again.

Eurozone’s economic powerhouse’s Industrial Output rose by 2.0% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. 0.1% expected and 3.5% prior.

On an annualized basis, German Industrial Production arrived at 0.6% in February versus a -1.6% figure booked in January and -2.7% market expectations.

FX implications

The shared currency is recovering losses to trade neutral at 1.0900 on the upbeat German industrial figures.