Germany’s industrial sector continues to faces another challenging year ahead, with Federation of German Industries (BDI) issuing a warning about the downturn in industrial production and the stagnation of exports for 2024. According to BDI’s latest forecasts, industrial production is anticipated to drop by -1.5% this year. Additionally, exports are expected to remain flat.
BDI President Siegfried Russwurm highlighted the persistent struggles of the German industry, which has not fully recovered from “cost and demand shocks,” driven by spikes in energy prices and inflation pressures.
Russwurm expressed concern over the long-term trend, noting that, despite some signs of a moderate recovery, the “overall production figures” have been following a “worrying downward trend” for several years.
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