节点：下游（终端消费/应用）位置：下游情绪：利好参考度：4/10
据德国工业联合会（BDI）称，德国工业行业不太可能在2026年复苏，生产预计最多停滞不前。BDI主席彼得·莱宾格在汉诺威工业博览会开幕式上发出了这一警告。
产出持续下滑。自2022年以来，工业生产每年都在下滑，该行业目前正进入长期疲软期。该协会下调了前景预期，理由是年初开局疲软以及地缘政治风险上升。
能源成本与地缘政治风险加剧压力。持续的伊朗相关冲突通过推高能源价格、扰乱供应链和加剧通胀压力，进一步增加了负担。BDI表示，若航运中断持续，可能导致制造业产出连续第五年下滑。
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