Germany's April industrial output up 0.4%, beating forecasts

April 2026 industrial production in Germany grew 0.4% month‑on‑month, surpassing market expectations of a 0.5% rise. The Federal Statistical Office also revised March's data, narrowing the decline from a previously reported 0.7% drop to just 0.1%. While annual industrial output remained 0.5% lower than a year earlier, sectoral gains were driven by construction (+2.4% annual), chemicals (+2.1%) and fabricated metal products (+1.6%). The automotive sector weighed on the figures, with a 4.7% drop in vehicle production.

External trade showed a similar positive surprise: exports rose 0.9% month‑on‑month, outpacing expectations of a 0.5% fall, while imports increased 1.2%. The trade surplus narrowed slightly from €14.7 billion in March to €14.5 billion in April. Analysts see the data as a modest sign of short‑term resilience amid broader economic headwinds.