“Industrial production remains significantly below the pre-crisis level of 2019, and capacity utilisation is only 77 per cent,” a BDI statement said.
The Federation of German Industries has cut its 2025 GDP growth forecast for Germany to minus 0.3 per cent from minus 0.1 per cent due to higher US tariffs.
Industrial production is significantly below the pre-crisis level of 2019, and capacity utilisation is 77 per cent.
Energy costs must be permanently reduced to a competitive level and the country has a long way to go to get out of recession.
The country still has a long way to go to get out of recession and there is scope for an upturn next year if the government resolutely pursues the path it has chosen, BDI head Peter Leibinger was cited as saying by media reports from the country.
Though the government has already taken initiatives like the ‘investment booster’ and tax and energy cost relief schemes, further measures and structural reforms are necessary to strengthen the economy and its competitiveness in the long term, he noted.
Energy costs must be permanently reduced to a competitive level, and there is potential for savings in the energy transition, he added.
Fibre2Fashion News Desk (DS)