【环球财经】德国工业产出连续第四年萎缩

Core Viewpoint - Germany's industrial output is projected to decline by 1.1% in 2025, marking the fourth consecutive year of decrease, primarily due to weak automotive production and other factors [1] Group 1: Industrial Output Trends - In 2025, the construction sector's output is expected to drop by 1.7%, while other industrial sectors, excluding construction and energy, will see a decline of 1.3% [1] - Key sectors such as the automotive industry and machinery manufacturing are experiencing significant output reductions, with declines of 1.7% and 2.6% respectively [1] - The industrial output has been shrinking for several years, with declines of 1.5% in 2023 and 4.5% in 2024 [1] Group 2: Economic Factors - High labor and energy costs, along with weak external demand, are constraining Germany's industrial output [1] - Despite some signs of improvement in the fourth quarter of 2025 due to domestic demand in defense and infrastructure, structural issues continue to hinder industrial development [1] - The overall economic landscape has not shown signs of a recovery that could lead to a comprehensive increase in industrial goods demand [1] Group 3: Long-term Industrial Performance - The industrial sector plays a crucial role in the German economy, and its ongoing weakness is widely regarded as a significant factor in the country's sluggish economic growth [1] - According to the Kiel Institute for the World Economy, Germany's industrial production has only seen growth in 2021 over the past seven years, with the 2025 output level still approximately 14% lower than in 2018, and the automotive sector's decline exceeding 20% [1]