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多家德国主要经济研究机构4日发布秋季预测报告，因美国关税政策等因素，2025年德国经济预计仅增长0.1%至0.2%，低于夏季预测值。年中德国政府设立大规模基础设施基金等财政措施未达预期刺激效果，是预期下调原因之一。报告指出德国经济低迷，制造业、服务业需求不足，建筑业疲软，个人消费复苏缓慢。

美国关税政策持续冲击德国出口，加重经济下行压力。虽欧盟与美国就关税争端达成新协议，但因内容含糊、税率大体不变，不利影响难缓解。哈雷经济研究所副所长称，美国..

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