Germany's industrial downturn persisted in October, with production declining further, as reported by ING. Industrial output dropped by 1 per cent month-on-month, following a steeper 2.5 per cent contraction in September. Production has fallen nearly 5 per cent compared to last year's period. This weak start to the fourth quarter heightens concerns of a potential winter recession for Europe's largest economy.
The industrial outlook remains challenging
The challenges faced by German industry over the past few years exemplify the broader struggles of the nation's economy. Caught between cyclical downturns and structural obstacles, Germany has had to confront the reality that its traditional macroeconomic model—reliant on affordable energy and accessible export markets—is no longer sustainable. As a result, nearly five years after the pandemic began, industrial production remains over 10 per cent below pre-pandemic levels.
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