The iShares MSCI Germany ETF (EWG), which tracks the investment results of an index composed of German equities, is likely to be positively impacted in the short term by the higher than expected industrial production figures. This is because the ETF's performance is closely tied to the economic health and industrial activity of Germany. The surpassing of both the estimated and previous month's figures suggests a stronger economic outlook, which can boost investor confidence in German equities and, by extension, in EWG.