German industrial production rose +1.2% MoM (vs 0.0% MoM expected) and +1.0% YoY in May 2025, following a revised -1.6% MoM drop in April.

• Production excluding energy and construction increased +1.4% MoM and +1.4% YoY.
• Automotive output jumped +4.9% MoM, while energy production surged +10.8% MoM.
• Construction output dropped -3.9% MoM, pushing the index to the lowest in over eight years
• Pharmaceutical production rose sharply by +10.0% MoM; construction fell -3.9% MoM.
• Capital goods output grew +4.1% MoM, consumer goods +0.5%, but intermediate goods declined -2.1% MoM.
• Output in energy-intensive industries fell -1.8% MoM and -4.8% YoY.