German industrial production rises 0.5% m/m in March, a positive surprise

Industrial production in Germany continued its rebound in March, the official data showed on Wednesday; easing fears further of a slowdown in Europe's largest economy.

Output unexpectedly rose 0.5% m/m, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects - well past a 0.5% drop expected and +0.7% last.

On an annualized basis, the German industrial production arrived at -0.9% versus -2.8% expected and -0.4% booked in February.