BREAKING: German industrial production much higher than expected

German industrial production YoY (seasonally adjusted in November) came in - 2.8% vs -4.5% exp. and -4.75% previously

Industrial production monthly came in 1.5% vs -0.5% exp. and -1% previously

German November Trade Balance came in at EUR 19.7B vs EUR 14.5B exp. and EUR 13.5B exp.

German exports came in 2.1% MoM vs 2% exp. and -2.5% previously
German imports came in -3.3% MoM vs 0.7% exp. and -0.1% previously

EURUSD gains very slightly after the report. Despite higher industrial production, much lower imports may suggest still sluggish demand across the German economy. The rebound in industrial production in Germany is a good indicator, which is quite contradictory to the strong decline in orders. It is worth mentioning that in September we had a massive increase in transportation orders, which is most likely projecting a recovery in industrial production at this point. Since September, however, orders have been falling sharply, with weak order books and high inventories.

Source: xStation5

22 May 2026, 09:40

Economic calendar (22.05.2026) US UoM final data in focus, German Ifo beats expectations

22 May 2026, 07:03

Morning wrap (22.05.2026) Nasdaq climbs higher, supporting European and Asian stocks

21 May 2026, 14:54

BREAKING: Mixed PMI from US

21 May 2026, 08:53

Significant Weakness Following PMI Releases from France and Germany. ECB Hike Under Threat?

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