German industrial production rose +1.3% MoM (vs 1.0% MoM expected) and +1.5% YoY in July 2025, marking a rebound after June’s downward revision to -0.1% MoM and -1.8% YoY.

• Industry excluding energy and construction increased +2.2% MoM, with capital goods up +3.0%, consumer goods +2.1%, and intermediate goods +0.8%.

• Machinery and equipment output surged +9.5% MoM, while pharmaceuticals rose +8.4% and autos +2.3%, providing the main positive contributions.

• Energy production fell -4.5% MoM, weighing on the headline figure.

• Construction output edged up +0.3% MoM.

• Energy-intensive industries rose +0.4% MoM but were down -4.8% YoY, with the 3-month average showing a -2.6% decline versus the prior period.