German Industrial Production Rises 0.7% in September, Beating Market Expectations
Key Facts
German industrial production rose 0.7% month on month in September 2026, beating market expectations for growth of 0%, according to a report published by FXStreet on November 6. The reading marked a second consecutive monthly increase, with production also growing in August. However, the August reading was revised to 1.0%, from the previously reported 2.0%. Year on year, production increased 0.4% in September, compared with growth of 0.7% in August after the previous reading of 2.3% was revised. The report said production "rose 0.7% during the month in September," beating expectations.
In a parallel indicator of orders flowing to factories, data from Germany's Federal Statistical Office, Destatis, showed that new industrial orders, in real terms, rose 4.4% in September from the previous month. Orders increased 3.3% year on year after calendar adjustment, and rose 5.1% month on month excluding large-scale orders. Destatis attributed the increase mainly to 10.5% monthly growth in orders in the automotive sector. Orders for machinery and equipment also rose 8.3%. The figures detail the sources of order growth, alongside the increase in industrial production in the same month.
Orders rose from both domestic and foreign markets, with domestic orders up 6.6% in September, according to Destatis. Foreign orders increased 2.8%, with differences across markets: orders from the euro area rose 4.5%, compared with 1.6% from outside the area. These moves indicate that order growth was not limited to a single source, while the domestic market led the increase among the components reported in the data. This came after the August industrial production reading was revised, making the month-on-month comparison between the two readings dependent on that month's revised figure. Annual production growth was slower in September than in August after the revision.
In the broader economy, Germany's gross domestic product grew 0.2% in the third quarter of 2026 from the previous quarter, after price, seasonal and calendar adjustment, according to Destatis data. The rise in industrial production in September thus coincided with modest quarterly growth in the economy. In foreign exchange markets, EUR/USD was down 0.33% near 1.1180 when FXStreet published its report on November 6. The agency reported that the pair was "posting losses near 1.1180, down 0.33% on the day." The report did not specify that the currency move was a direct response to the production data.
Destatis is scheduled to publish detailed results for third-quarter GDP on November 25, 2026. Those results will provide further detail on the economy's performance during the period that included September, when industrial production posted a monthly increase and order data showed gains in both domestic and foreign components. For retail data, Destatis said preliminary results are usually published about 30 days after the end of the reporting month. Data in the GENESIS database are updated 45 days after the end of the month. This usual schedule sets the timing for the release of preliminary results and the revision of retail data.