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Data from Destatis. Forecasts by Sigmanomics Forecast Engine.
GermanyGermany PPI MoM fell to -0.1% in December 2024
DestatisMonthlyReleased January 2025
Germany PPI MoM fell to -0.1% in December 2024, released January 2025, down 0.6% from November's 0.5% reading. The print came in cooler than the 0.3% consensus, a softer print than forecasters anticipated. The print is running well below the 12-month average of -0.02%. Over the past 3 months, PPI MoM averaged 0.35%, vs -0.03% in the prior 3-month window. The reading is in the 50th percentile of the trailing 24-month range.
Latest Release
-0.1
Actual
0.3
Consensus
0.5
Previous
Median Absolute Error
±0.2 percentage points
across last 12 releases
Last Call
Jan 2025
Predicted: 0.35
Actual: -0.1
Error: +0.45
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| DAX | ▲ Direct | +0.55 | INDEX | Moves with | → View |
| EUR/USD | ▲ Direct | +0.50 | FOREX | Moves with | → View |
| EUR/GBP | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| EUR/JPY | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| EUR/CHF | ▲ Direct | +0.35 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
PPI MoM (Germany) was reported at -0.1% in January 2025. This missed the market consensus of 0.3% by 0.4%. The reading fell from the previous value of 0.5%. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 0.2%, up from the prior three at -0.03%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with DAX (Bullish DE). A secondary relationship exists with EUR/USD, positively correlated (Bullish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 0.2%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Bundesbank Nagel Speech (Sep 22) and Bundesbank Balz Speech (Sep 22).
Auto-generated from current model state · Refreshes on each release · Last update January 2025.
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PPI MoM - DE
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About PPI MoM — Germany
DEFINITION
PPI MoM stands for Producer Price Index Month-over-Month and is a key economic indicator used to measure the average change in prices received by domestic producers for their goods and services over a one-month period. This indicator provides valuable insights into inflationary pressures in the economy and is closely monitored by policymakers, investors, and businesses to make informed decisions. A higher PPI MoM indicates rising prices, while a lower PPI MoM suggests a decrease in prices, making it an essential tool for understanding the current state of the economy.
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Dec 2024): actual -0.1 %, consensus 0.3 %. Prior reading (Nov 2024): 0.5 %. Before that (Oct 2024): 0.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with DAX (Bullish DE, r=0.55) — a useful reference for index-focused traders.
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EXPECTED ZONE
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Economic Calendar - DE Events
| Wednesday, September 23, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 07:30 | DE | S&P Global Services PMI | 49.7 | 50 | 48.90 | Medium | |
| 07:30 | DE | S&P Global Manufacturing PMI | 54.3 | 54 | 53.75 | High | |
| 07:30 | DE | S&P Global Composite PMI | 51.8 | 51.7 | 50.75 | Medium | |
| Thursday, September 24, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 08:00 | DE | Ifo Business Climate | 88.8 | 89 | 89.00 | High | |
| 08:00 | DE | Ifo Current Conditions | 88.5 | 88.7 | 89.00 | Low | |
| 08:00 | DE | Ifo Expectations | 89.1 | 89.5 | 89.05 | Low | |
| Friday, September 25, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 06:00 | DE | Consumer Confidence | -26.6 | -27.5 | -28.30 | High | |