Urgent - Industrial production in Germany contracts again and at a pace greater than expected.

Data released on Tuesday from the German Federal Statistical Office (Destatis) showed that the country's industrial production contracted once again in September, with a decline much worse than market expectations. This indicates a stagnation in industrial activity in Germany, which reflects negatively on economic growth in the largest economy in the Eurozone.

According to the recently disclosed data, Germany experienced a 2.5% contraction in industrial production on a month-on-month basis in September, while market expectations had estimated a decrease of only 1.1%. This follows a strong industrial production growth of 2.9% in August, which was revised down to a growth of 2.6%.

On an annual basis, official data indicated a 4.6% contraction in Germany's industrial production in September, which is significantly worse than the previous reading for August that showed a 3% contraction, revised from -2.7%.

It is worth noting that industrial production measures the output of factories and mines within Germany, and the change in industrial production volume is a key indicator of the robustness of the manufacturing sector within the country. A positive reading of the index is viewed as a favorable or bullish signal for the euro, while a low reading is perceived as a negative or bearish signal for the euro in Germany.