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German PPI rises less-than-expected in February

Published 03/20/2012, 03:15 AM
Updated 03/20/2012, 03:15 AM

Investing.com - German producer price inflation rose less-than-expected in February, official data showed on Tuesday.

In a report, Destatis, Germany's statistics office said that its producer price index rose by a seasonally adjusted 0.4% in February, below expectations for a 0.5% gain.

German PPI rose by 0.6% in January.  

Year-on-year, German producer price index rose at an annualized rate of 3.2% in February, in line with expectations, after advancing at an annualized rate of 3.4% in January.

Following the release of the data the euro was fractionally lower against the U.S. dollar, with EUR/USD easing down 0.02% to trade at 1.3237.

Meanwhile, the outlook for European stock markets was downbeat. The EURO STOXX 50 futures pointed to a loss of 0.25%, France’s CAC 40 futures indicated a decline of 0.3%, Germany's DAX futures shed 0.3%, while London’s FTSE 100 futures slipped 0.3%.

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