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  • German industrial production slides in December; Q4 GDP growth set to be revised lower.
  • Defence spending has long been visible in German manufacturing data; it should accelerate in 2026.
  • Spanish industry had a better Q4 than Q3 2025, but it is starting to lose steam.

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Keywords for: 9 February 2026 Eurozone Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence