Industrial Production in Germany
The German economy recorded an average industrial production growth rate of -0.5% in the decade to 2024. In 2024, industrial production growth was -4.4%. For more industry information, visit our dedicated page.
Germany Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Germany from 2014 to 2024.
Source: Macrobond.
Germany Industry Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | -7.7 | 3.5 | -0.6 | -1.7 | -4.4 |
Industrial output returns to the doldrums in April
Latest reading: Industrial production decreased 1.4% on a seasonally and calendar-adjusted month-on-month basis in April. The reading was a deterioration from March’s downwardly revised 2.3% expansion, was steeper than markets had expected and marked the joint-worst reading since July 2024. Looking at the details of the release, the downturn was broad-based, likely due to the fallout from U.S. tariffs as well as some Easter-related effects: Manufacturing plus mining and quarrying swung into contraction, and energy supply shrank at a sharper pace. More positively, the construction sector gained steam. On an annual basis, industrial output fell at a more pronounced rate of 1.8% in April (March: -0.7% yoy). Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at a one-year high of minus 3.5%, up from March's minus 3.7%.
Panelist insight: ING’s Carsten Brzeski commented: “Today’s industrial production data reflects the feared reversal of the frontloading effect of the first quarter and suggests that the structural weakness in industry is not over, yet. At the same time, however, there are growing indications that the German industrial cycle is gradually turning, as industrial orders have also improved and inventory levels have started to fall. However, […] the ongoing trade tensions will still weigh on German (and European) industry.”
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects German industry projections for the next ten years from a panel of 11 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for German industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our German industry projections.
Want to get access to the full dataset of German industry forecasts? Send an email to info@focus-economics.com.
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