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ING Bank N.V.

June 9, 2026

German Industrial Production

Market ReportMacro Economic IndicatorsIndustrials

German industrial production rose slightly in April by 0.4% but remains stagnant compared to the broader trend. Persistent economic challenges and supply chain concerns have stalled hopes for an industrial recovery in 2026.

Key Takeaways

  • 1.German industrial production increased by 0.4% MoM in April, but the trend remains one of stagnation.
  • 2.Industrial orders have declined by an average of 2% each month in 2026, pointing to a sombre outlook.
  • 3.Supply chain frictions and lack of equipment are becoming an increasing impediment to industrial activity.

Table of Contents

  • German industrial production defied worst-case fears in April, but stagnation persists
  • Stagnation instead of new beginnings
  • Author
  • Disclaimer

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Authors

Carsten Brzeski

Themes

Industrial StagnationSupply Chain Frictions

Regions

EuropeGermany

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