German industry is still on a dramatic downward spiral. The currently measured production index fell to a deeply recessive value of 42.3, after 45.5 in the previous month. Of course, the mainstream press had previously forecast a higher figure (46). After all, they want to spread hope in the land of climate apocalyptics.
123 sats \ 2 replies \ @quark 22 Feb
French data was a bit better earlier. Maybe Germany will have to buy their nuclear energy.
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0 sats \ 0 replies \ @TomK OP 22 Feb
They were buying it all the time
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0 sats \ 0 replies \ @Undisciplined 22 Feb
I thought they had been buying French nuclear energy ever since they stupidly shut all of their plants down.
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46 sats \ 1 reply \ @koqoo 22 Feb
“Despite taking a hit, the service sector is still a glimmer of hope for the Germans. According to the HCOB Flash PMI, services companies have positive expectations for future business, supported by a significant increase in employment numbers.”
this is the biggest joke!
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0 sats \ 0 replies \ @TomK OP 22 Feb
MSM BS
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21 sats \ 0 replies \ @shado_op 22 Feb
And its mighty car industry is about to get smashed as well.
The Dacia Spring, made in China, of course, is a joint venture between Renault, Nissan and Dongfeng.
It's basic models sell for thousands of €/£ less than equivalent European/UK EV's.
They sold 120,000 in Europe already since 2021, and are just about to launch into the UK for about £10k less than the nearest priced rival. The UK, is, of course, a big market for German car manufacturers.
And BYD just landed 5,000 cars in the Netherlands; with some crazy price speculation in the press.
European manufacturers cannot compete due to the much higher labour and environmental laws in Europe compared to China. The US has responded with tariffs about 24%, but even that would not be enough.
One of Europe's last big manufacturing industries faces an existential threat...Ironically the Statist Euro elite are being outgunned by even bigger Statists, the CCP!
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