Latest data released by Destatis - 9 April 2021

  • Prior -2.5%; revised to -2.0%
  • Industrial production WDA -6.4% vs -2.3% y/y expected
  • Prior -3.9%; revised to -4.0%

The figures above misses on estimates and that is a bit of a poor showing in terms of hard data, despite the more upbeat suggestions from the earlier PMI reports.

It shouldn't do much to dent the manufacturing/industrial optimism to start the year but it does chip away at the resilience of the economy's performance in Q1.