Overview

• In the year to June, industry employment fell by about 114,000 to 5.42 million, with auto jobs down roughly 7 percent, according to EY using official data.
• Industrial sales declined 2.1 percent in Q2, the eighth straight quarterly drop, while automotive revenue fell 1.6 percent.
• EY points to export losses to the U.S. under higher tariffs and softer shipments to China alongside bureaucracy, weak domestic demand and elevated power prices.
• Manufacturers and suppliers are rolling out savings plans, with Porsche set to largely wind down its Cellforce battery unit, as machinery and metal sectors also shed jobs but chemicals and pharma hold steadier.
• Labor indicators signal strain with forecasts that joblessness could exceed 3 million, though the IAB barometer turned positive in August and EY warns graduates, especially engineers, face a tougher market.