Germany intermediate and capital goods production index
Germany intermediate and capital goods production index stood at 90.5 in Aug 2026, according to Deutsche Bundesbank. It is one of the indicators in the Industrial production, turnover and productivity table (Value · Monthly), with a complete series running from Jan 1991 to Aug 2026. The complete series with an interactive chart, free to download.
This indicator in the Industrial production, turnover and productivity table
| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Intermediate and capital goods2 | 90.5 | 90 | 91.7 | 91.9 | 91.1 | 91.4 | 91.7 | 91.5 | 92.6 | 94 | |
| Intermediate goods | 83.5 | 83.7 | 84.2 | 85.1 | 85.3 | 84.1 | 83.7 | 83.1 | 83.5 | 84.1 | |
| Capital goods | 96.3 | 95.2 | 97.9 | 97.4 | 95.9 | 97.3 | 98.3 | 98.4 | 100 | 102.1 |
Understanding germany intermediate and capital goods production index
Combining the foundational stages of the industrial lifecycle, this index aggregates the production of materials used for further manufacturing alongside the machinery required to build them. It spans raw chemicals, processed metals, and electronic components (intermediate goods), together with factory equipment, commercial transport, and heavy machinery (capital goods). It strictly excludes items destined for final household consumption, civil construction, and energy generation. This pairing creates a dedicated barometer for business-to-business industrial activity, capturing both raw supply chain throughput and long-term corporate capital expenditure in a single volume metric.
The dual nature of this series means it behaves as both a coincident and a leading indicator; intermediate throughput reflects current factory-floor demand, while capital equipment production signals future capacity expansion. Month-on-month changes in the adjusted series are closely monitored to detect supply chain bottlenecks or aggressive inventory destocking phases. When evaluating short-term movements, analysts must remember that heavy machinery production is notoriously uneven, meaning the completion of massive bespoke industrial orders can cause brief, isolated spikes that do not guarantee a sustained upward trend. Revisions frequently occur as complex, multi-month engineering projects are finally logged upon completion.
Frequently asked questions
- What is the difference between the two components of this index?
- Intermediate goods are materials transformed into other products, while capital goods are the long-lasting machines and equipment used to perform that transformation.
- Why are consumer items excluded from this metric?
- Removing household goods isolates business-to-business transactions, providing a focused view of corporate investment and supply chain momentum.
- How do large bespoke machinery orders distort the data?
- The completion of high-value, custom-built factory equipment can cause brief, isolated spikes in output that temporarily skew the underlying trend.