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Bundesbank Monthly Report - October 2025
From publikationen.bundesbank.de
Real gross domestic product (GDP ) is likely to flatten at best in the third quarter of 2025. Industry is continuing to suffer due not only to structural problems, but also raised US tariffs. Output, real sales and real exports of goods saw a decline recently. The same is now also true for industrial new orders. Moreover, the still low level of capacity utilisation in industry and weak competitiveness probably continued to weigh on investment activity and thus on demand for capital goods. Standing somewhat in contrast to this, however, is the improvement in short-term production expectations and, above all, export ... (full story)