Considering the prolonged manufacturing recession in Germany, it’s not too surprising to see it finally hit the labour market. The VDMA expects production in 2025 to decline by 2% in real terms, similar to their previous forecast. As for 2024, they see production falling by 8% in real terms.
The body also warns of intensified competition in China and uncertainty stemming from the US as adding to the more challenging outlook for next year.
This article was written by Justin Low at www.forexlive.com.
