Economic Indicators

German industrial body expects 3% drop in production this year

2024.11.22 04:40

BERLIN (Reuters) – German industry expects a 3% fall in production in 2024, the third year of decline, with no recovery in sight for 2025, the BDI industry body said on Friday.

“German industry is under massive pressure,” BDI head Tanja Goenner said upon releasing the association’s report for the sector.

“It is particularly problematic that the leading German industries are struggling with sharp declines this year,” she added.

In September, car manufacturing recorded a 6.9% drop in production year on year, while in mechanical and electrical engineering it was down 8.5% and 10.7%, respectively, according to the BDI.

© Reuters. FILE PHOTO: People visit a trade fair in Hannover Messe, in Hanover, Germany, April 22, 2024.  REUTERS/Annegret Hilse/File Photo

It forecast a 0.5% decline in German exports in 2024, as global trade in goods increases by 2%.

“There is no improvement in sight for the coming year,” Goenner said.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,421.37 0.01%
ethereum
Ethereum (ETH) $ 3,468.23 0.94%
tether
Tether (USDT) $ 0.998795 0.17%
xrp
XRP (XRP) $ 2.28 1.85%
bnb
BNB (BNB) $ 703.06 1.19%
solana
Solana (SOL) $ 197.98 0.12%
dogecoin
Dogecoin (DOGE) $ 0.330793 1.35%
usd-coin
USDC (USDC) $ 0.999655 0.19%
staked-ether
Lido Staked Ether (STETH) $ 3,463.33 0.86%
cardano
Cardano (ADA) $ 0.912403 3.20%
tron
TRON (TRX) $ 0.256679 0.76%
avalanche-2
Avalanche (AVAX) $ 40.50 1.64%
chainlink
Chainlink (LINK) $ 24.59 0.09%
the-open-network
Toncoin (TON) $ 5.99 3.88%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,123.54 0.74%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 1.83%
sui
Sui (SUI) $ 4.52 2.13%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,094.28 0.27%
hedera-hashgraph
Hedera (HBAR) $ 0.312109 2.73%
stellar
Stellar (XLM) $ 0.382222 4.37%
polkadot
Polkadot (DOT) $ 7.45 1.47%
weth
WETH (WETH) $ 3,471.03 0.69%
bitcoin-cash
Bitcoin Cash (BCH) $ 462.12 3.15%
hyperliquid
Hyperliquid (HYPE) $ 26.90 10.24%
leo-token
LEO Token (LEO) $ 9.55 1.04%
uniswap
Uniswap (UNI) $ 13.85 5.27%
litecoin
Litecoin (LTC) $ 108.39 1.56%
bitget-token
Bitget Token (BGB) $ 5.71 16.10%
pepe
Pepe (PEPE) $ 0.000019 3.03%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,664.86 0.87%
near
NEAR Protocol (NEAR) $ 5.47 2.34%
ethena-usde
Ethena USDe (USDE) $ 0.998848 0.21%
aave
Aave (AAVE) $ 368.34 2.25%
usds
USDS (USDS) $ 1.00 0.06%
internet-computer
Internet Computer (ICP) $ 11.22 0.26%
aptos
Aptos (APT) $ 9.64 1.96%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.514687 2.95%
crypto-com-chain
Cronos (CRO) $ 0.157981 5.12%
vechain
VeChain (VET) $ 0.051659 3.65%
mantle
Mantle (MNT) $ 1.24 0.50%
ethereum-classic
Ethereum Classic (ETC) $ 27.26 3.38%
render-token
Render (RENDER) $ 7.52 5.21%
bittensor
Bittensor (TAO) $ 508.76 1.25%
monero
Monero (XMR) $ 194.29 0.94%
whitebit
WhiteBIT Coin (WBT) $ 24.91 0.64%
mantra-dao
MANTRA (OM) $ 3.77 1.02%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.35 4.82%
dai
Dai (DAI) $ 0.99967 0.24%
arbitrum
Arbitrum (ARB) $ 0.798068 4.11%
filecoin
Filecoin (FIL) $ 5.30 4.20%