What US and EU PPI Tell Us About Multi Industry

This report analyzes April 2026 PPI data across the US, EU, Germany, and China, focusing on its impact on the Multi-Industry sector.

Key Takeaways

• 1.Capital Goods PPI is currently accelerating at a faster rate than the historical relationship with raw material price moves.
• 2.US PPI growth for capital goods decelerated to 5.4% YoY in April 2026, though pricing remains positive across 100% of tracked categories.
• 3.China PPI reached a 45-month high in April 2026, reflecting significant sequential improvement following raw material moves post-Middle East conflict.

Table of Contents

• Multi-industry toolkit
• Summary – YoY PPI falling in US and Germany, rising in EU and China
• US PPI: YoY growth down sequentially but remains materially above median
• EU PPI: YoY growth sequentially up and remains above median
• Germany PPI: YoY growth sequentially down in March
• Appendix I: China PPI YoY growth rose sequentially and is at 45 month high
• Appendix II: Stock OSG vs PPI
• Appendix III: Stock Margin vs PPI
• Disclosure Appendix

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