Germany's Machinery Sector Faces Order Collapse
804 sats \ 11 comments \ @TomK 1 Jul econ
Germany's economic troubles are intensifying, with the machinery and plant engineering sector, a vital component of its industrial backbone, facing a significant decline. Recent data from the German Engineering Federation (VDMA) reveals a worrying 27 percent drop in orders in May compared to the previous year. This follows a brief period of growth in April, indicating a volatile and uncertain market.
The VDMA highlights that the order intake's fluctuations mirror the ongoing reluctance to invest among customers. The domestic market is particularly hard-hit, with a staggering 44 percent decline in orders, while the foreign market saw a 16 percent decrease. Orders from Eurozone countries dropped by 12 percent, and those from non-Euro countries decreased by 17 percent.
Germany's overregulation and flawed energy policies are driving businesses abroad, exacerbating the economic downturn. The country is heading for economic desaster!
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84 sats \ 1 reply \ @IamSINGLE 1 Jul
I don't understand why they are putting so much stress on Net zero policy? I remember that there were excess talks about Ozone depletion. They turned out to be another propoganda. Now they are running this propoganda. IMO, it's not only creating obstacles in a country's growth but also making people live under fear for future generations.
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11 sats \ 0 replies \ @TomK OP 1 Jul
the net Zero policy serves only one purpose: to put the energy-poor Europeans in a position to sit at the same table as the other countries that have conventional energy sources. that is why and only why this climate panic is being attempted
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75 sats \ 2 replies \ @0xbitcoiner 1 Jul
A large part of the decline can be attributed to a base effect; in May 2023, there were an exceptionally high number of orders for large-scale systems from Germany.
by Olaf Wortmann, VDMA economic expert https://www.vdma.org/viewer/-/v2article/render/102502250
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98 sats \ 0 replies \ @TomK OP 1 Jul
in the case of Germany and its economic decline, there are always some excuses! sometimes it's base effects, sometimes it's the evil Russian, sometimes it's the evil Chinese, it's never the Germans themselves who are driving their economy into the ground. this economy has been destroyed by the green ideologues and all the figures speak for it...
I'm still waiting for the latest figures, but last year the German economy lost 136 billion euros in direct investment abroad. that's clear
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0 sats \ 0 replies \ @TomK OP 1 Jul
in the case of Germany and its economic decline, there are always some excuses! sometimes it's base effects, sometimes it's the evil Russian, sometimes it's the evil Chinese, it's never the Germans themselves who are driving their economy into the ground. this economy has been destroyed by the green ideologues and all the figures speak for it...
I'm still waiting for the latest figures, but last year the German economy lost 136 billion euros in direct investment abroad. that's clear
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75 sats \ 1 reply \ @NRS 1 Jul
The overall economic situation globally is indirectly affected by both inflation and the Russian-Ukrainian war.
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33 sats \ 0 replies \ @TomK OP 1 Jul
Yes, but both inflation and the problem with Russia have been brought about by the inflation of the money supply and the endless packages of sanctions against the world's most important supplier of raw materials.
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75 sats \ 0 replies \ @Satosora 1 Jul
Engineering is struggling? In the US, there are many engineering students who struggle to find a job. At least as a millennial, I noticed many took other kinds of jobs.
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53 sats \ 1 reply \ @Coinsreporter 1 Jul
India imports maximum automotive parts from Germany and this slow down is definitely heard here as well. If Germany remains the same way, China will become the biggest supplier of auto parts to India. India will also have to buy from China; which everyone knows is not acceptable to current government here.
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0 sats \ 0 replies \ @TomK OP 1 Jul
I am observing how a lot of capital is flowing out of the German automotive and supplier industry to countries like Morocco. Germany is a dying business location, whether we want to admit it or not, and it is a geopolitically deliberate act!
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42 sats \ 0 replies \ @riberet19 1 Jul
As I was reading recently, all regulation is not done to protect the consumer, but to make a certain good or service less attractive and accessible, over-regulation will end up killing Europe if this does not change.
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