QIV-2025 QUARTERLY REPORT GERMANY
Tiny growth in Germany after two years of recession Industrial production falls fourth year in a row
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German economy only gradually emerging from recession. We expect a minimal 0.1 percent rise in real economic output in 2025 overall.
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Manufacturing output down for fourth consecutive year. From January up to and including October 2025, manufacturing output was 2.1 percent down year on year.
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German foreign trade not benefiting from pick-up in global trade. We expect German exports this year to drop by 0.8 percent in real terms.