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In a stark revelation of Europe's regulatory and anti-business policies, the Eurozone's manufacturing sector has taken a significant hit, far beyond anticipated levels.
Industrial production in the Eurozone, excluding construction, plummeted by a seasonally adjusted 1.1% in December, outpacing economists' expectations of a mere 0.5% decline, as reported by Eurostat. Year-on-year figures are even more telling, with a 2.0%. This happens in a time where the business cycle should accelerate!
The production of capital goods saw a sharp decline of 2.6% month-over-month, with a yearly reduction of 8.1%. Intermediate goods production also decreased, dropping by 1.9% from the previous month and 2.4% over the year.
The broader EU-27 region did not fare much better, with industrial output falling by 0.8% month-on-month and 1.7% year-on-year.
This downturn paints a grim picture of the European industrial landscape, highlighting the urgent need for policy reevaluation to foster a more conducive environment for industrial growth.
Is there any serious consideration of policy reversal, yet?
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No. They're doubling down. Now wait for the Eurobond/warbond debatecagain when the US withdraws from Ukraine.
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Is anyone on the verge of leaving the EU, right now?
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Most of us that would leave now already left before the Brits got the idea. And since they left there's no reason to come back.
There is no liberal (US translation: libertarian) counterbalance anymore post-Brexit.
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