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Data from Destatis. Forecasts by Sigmanomics Forecast Engine.
GermanyGermany Industrial Production MoM climbed to 2.0% in August 2026
DestatisMonthlyReleased October 2026
Germany Industrial Production MoM climbed to 2.0% in August 2026, released October 2026, up 3.2% from July's -1.2% reading. The print exceeded the 0.5% consensus by 1.5%. The print is running well above the 12-month average of -0.28%. Over the past 3 months, Industrial Production MoM averaged -0.45%, vs 0.2% in the prior 3-month window. Industrial Production MoM is now the highest in 16 months.
Latest Release
2
Actual
0.5
Consensus
-1.2
Previous
Median Absolute Error
±1.11 percentage points
across last 12 releases
Last Call
Oct 2026
Predicted: 0.22
Actual: 2
Error: -1.77
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 |
|---|---|---|---|---|---|
| EUR/USD | ▼ Inverse | −0.76 | FOREX | Moves against | → View |
| EUR/GBP | ▲ Direct | +0.61 | FOREX | Moves with | → View |
| BTC/USD | ▼ Inverse | −0.55 | CRYPTO | Moves against | → View |
| FTSE 100 | ▼ Inverse | −0.38 | INDEX | Moves against | → View |
| XAU/USD | ▼ Inverse | −0.35 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Industrial Production MoM (Germany) was reported at 2% in October 2026. This beat the market consensus of 0.5% by 1.5%. The reading rose from the previous value of -1.2%. Trailing 12-month context per ETL data through October 2026. Over the past 12 months, the indicator has averaged 0.39%, ranging from -1.9% to 2% across 10 releases. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 0.37%, up from the prior three at 0.27%. Volatility over the past year (σ 1.19%) is lower than the prior year (σ 2.13%). In October readings over the past 3 years, Industrial Production MoM has averaged 0.2%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with EUR/USD (Bearish EUR). A secondary relationship exists with EUR/GBP, positively correlated (Bullish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 1.11%.
WHAT TO WATCH NEXT
The next release is scheduled for November 6, 2026. Same-country events in the next 14 days include S&P Global Manufacturing PMI (Oct 23) and S&P Global Services PMI (Oct 23).
Auto-generated from current model state · Refreshes on each release · Last update October 2026.
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Industrial Production MoM - DE
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About Industrial Production MoM — Germany
DEFINITION
Industrial Production MoM (Month-over-Month) is a key economic indicator that measures the change in the total output of the manufacturing, mining, and utilities sectors within a specific country or region over a one-month period. This indicator provides valuable insights into the health and growth of the industrial sector, which is a crucial component of a country's overall economic performance. It is closely monitored by investors, policymakers, and analysts as it can impact inflation, employment, and consumer spending. A positive MoM change in industrial production indicates a growing economy, while a negative change may signal a slowdown or contraction.
WHY THIS INDICATOR MATTERS
Manufacturing and factory-order series capture cyclical inflection earlier than aggregate output, and have outsized influence on industrial-sector equities. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 2 %, consensus 0.5 %. Prior reading (Jul 2026): -1.1 %. Before that (Jun 2026): 0.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with EUR/USD (Bearish EUR, r=-0.76) — a useful reference for forex-focused traders.
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Economic Calendar - DE Events
| Friday, October 23, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 07:30 | DE | S&P Global Manufacturing PMI | 53.9 | 53.5 | 54.35 | High | |
| 07:30 | DE | S&P Global Services PMI | 52.9 | 52.5 | 52.80 | Medium | |
| 07:30 | DE | S&P Global Composite PMI | 53.8 | 53.3 | 54.00 | Medium | |
| Monday, October 26, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 09:00 | DE | Ifo Business Climate | 89.9 | 89.2 | 89.50 | High | |
| 09:00 | DE | Ifo Current Conditions | 89.5 | 89.4 | 89.00 | Low | |
| 09:00 | DE | Ifo Expectations | 90.4 | 89.1 | 90.05 | Low | |