"Made in Germany", but no one needs it: gloomy prospects for industrial production in Germany

Germany has very big problems. This is reported by the specialists of the statistical office Destatis, who published the latest data on industrial production in Germany. The publication informs about the details Gazeta.Pl .

The situation has not been so bad since the coronavirus pandemic. Destatis data show that industrial production in Germany in December 2024 decreased by 2.4%, compared with November. A further decrease of 0.6% is also predicted.

"Thus, the indicator fell to the lowest level since May 2020," the German Statistical Office said in a statement.

For the whole of 2024, the drop was 4.5% compared to the previous year. But taking into account the same month last year, the decrease was 3.1%. Destatis experts emphasize that "the negative dynamics of production in December 2024 is mainly due to the decline in the automotive industry." The decrease in the production of machinery and equipment (-10.5%) also had a negative impact on the final result. On the other hand, the data from the pharmaceutical industry are positive (+11.6%).

The production of capital goods decreased by 4.7%, and the output of other goods — by 3.3%. Compared to November 2024, the volume of construction production remained at the level of the previous month (0.0%).

In turn, Bloomberg analysts emphasize that "Europe's largest economy remains in a state of stagnation" ahead of the February elections in the country.

"German GDP contracted for the second year in a row in 2024, and the outlook for 2025 is gloomy. Recently, the government has significantly lowered its growth expectations — from 1.1% to 0.3%. The Bundesbank, in turn, estimates economic growth at only 0.2% and warns "that another drop in GDP is possible if US President Donald Trump fully imposes duties on China and other countries," writes Bloomberg.