联合国工业发展组织UNIDO：2025年第四季度全球制造业生产与贸易报告（英文版）

In the fourth quarter of 2025, global manufacturing output grew by 0.50 per cent relative to the previous quarter, following a stronger increase of 0.79 per cent in the third quarter. As shown in Figure 1.1, this points to a gradual slowdown in manufacturing production over the course of the year, while year-over-year growth remained solid at almost 4 per cent. Mounting economic risks, including rising regional conflicts and political instability, supply chain bottlenecks, tariff escalation, and