Eurozone Faces Deepening Recession: Construction Industry in Crisis
304 sats \ 18 comments \ @TomK 6 Aug econ
The Eurozone is slipping deeper into recession, with the construction sector taking a significant hit. Overregulation, misguided climate policies, and inflated rulebooks are pushing developers away, exacerbated by rent controls and similar measures. France and Germany are the primary drivers of this downturn, dragging the overall index down.
In contrast, countries like Italy are attempting to stimulate their economies with affordable credit programs and public funding. However, this strategy is proving costly, with national debts soaring. The Eurozone finds itself in a perilous debt spiral.
In July 2024, the Euro Area Construction PMI fell to 41.40 points from June's 41.80. Historically, the PMI averaged 47.97 points from 2013 to 2024, peaking at 57 in January 2018 and hitting a low of 15.10 in April 2020.
https://m.stacker.news/43847
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71 sats \ 0 replies \ @IamSINGLE 6 Aug
All of this suggests that ECB is a badass here!
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69 sats \ 1 reply \ @TheMorningStar 6 Aug
Yes, EU is under recession. But why don't they accept it?
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0 sats \ 0 replies \ @TomK OP 6 Aug
The European Union, and above all the eurozone, is undergoing a self-hypnotized transformation process towards green socialism, which means more control in the hands of the political caste. You cannot admit now that your project has already failed, but you will also have to face this reality one day
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47 sats \ 6 replies \ @Satosora 6 Aug
What is Italy doing with all that money? I know people can buy houses in the countryside for very cheap. You have to fix them up, though. I thought I might do that in the future, maybe I can get citizenship!
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20 sats \ 5 replies \ @TomK OP 6 Aug
the economic policy of the european union has always followed the pattern of keyensianism: debt-based government spending programs, infrastructure spending, road after road built many construction ruins lots of money for nothing. the same thing is now happening in southern europe to stabilize what has long been out of joint due to the imbalances of the eurosystem and the hundreds of subsidy programs that ultimately serve only one purpose: the enrichment of the parasite cast.
I can very well imagine, if you can wait a little while, that demographics and economic factors will one day cause real estate prices in southern Europe to correct drastically downwards. you can pick up bargains. Personally, I live most of the time in Andalusia in Spain and a few months a year in Crete. The markets here are virtually frozen
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0 sats \ 4 replies \ @Satosora 6 Aug
I have always thought the road this was total bs. If the romans could build roads that last, why cant we? Spain or Crete? Those sound like nice places, too. To tell you the truth, I want to live more in England or Scotland.
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20 sats \ 3 replies \ @TomK OP 6 Aug
I was originally born in Germany and seized the opportunity a few years ago to emigrate. I love the Mediterranean and the Mediterranean mentality, the weather, the cuisine and the people. the only thing that will get me away is a bad system collapse, which I don't see happening for the time being, even if it doesn't look good
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0 sats \ 2 replies \ @Satosora 6 Aug
Even if it collapsed, people will just struggle though it and survive. They always do.
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20 sats \ 1 reply \ @TomK OP 6 Aug
but don't underestimate the strong family ties and cohesion within the neighborhoods in the villages down here
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47 sats \ 0 replies \ @Satosora 6 Aug
I feel the sense of community is stronger in european countries than in the USA. Plus, many people know how to garden in the EU.
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47 sats \ 2 replies \ @0xbitcoiner 6 Aug
In Portugal they've lost their minds and after decades of talking about a new airport they're finally going to start building. And here comes a TGV.
Don't you have figures for the construction sector by country?
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48 sats \ 0 replies \ @TomK OP 6 Aug
https://m.stacker.news/43852
https://m.stacker.news/43853
https://m.stacker.news/43854
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0 sats \ 0 replies \ @TomK OP 6 Aug
I will look for Fr and G, OK?
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0 sats \ 3 replies \ @TomK OP 6 Aug
England bucks the trend in the construction industry on the continent and enters a new construction cycle
https://m.stacker.news/43857
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47 sats \ 2 replies \ @zx 6 Aug
Most of this is led by buy-to-let, BoE-led initiative. Then there's the 'imported population' to squeeze in. None of this will help make housing affordable.
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0 sats \ 1 reply \ @TomK OP 6 Aug
What a policy mix...
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47 sats \ 0 replies \ @zx 6 Aug
Yah. It's pretty messed up.
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0 sats \ 0 replies \ @Satoshi__Nakamoto 6 Aug outlawed
stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.