In context, not surprising given global economy was shuttered.  What matters is the strength of the rebound as economies reopen.

OUCH! German Industrial Production had historic plunge in March. Total industrial output – comprised of output in manufacturing, energy and construction – crashed 9.2% in March from Feb. Industrial output fell 11.6% YoY. pic.twitter.com/8D0ApYmP1p

— Holger Zschaepitz (@Schuldensuehner) May 7, 2020