{"id":273503,"date":"2023-08-14T20:41:24","date_gmt":"2023-08-14T18:41:24","guid":{"rendered":"https:\/\/climatescience.press\/?p=273503"},"modified":"2023-08-14T20:41:27","modified_gmt":"2023-08-14T18:41:27","slug":"germanys-economic-woes-intensify-as-production-slumps-much-more-than-expected","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=273503","title":{"rendered":"Germany\u2019s Economic Woes Intensify As Production Slumps \u201cMuch More Than Expected\u201d"},"content":{"rendered":"\n
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From NoTricksZone<\/a><\/p>\n\n\n\n

By\u00a0P Gosselin<\/a>\u00a0on\u00a0<\/em>13. August 2023<\/p>\n\n\n\n

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To illustrate how damaging Germany\u2019s transition to renewable energies and the green movement have been, news is out that things are worse than we thought. Yet, don\u2019t expect the climastalinistas to acknowledge this. Quite to the contrary, they\u2019ll just blame all the economic troubles on the green movement going to slowly!In reality, though, slowing the economy is what they\u2019ve wanted all along.<\/p>\n\n\n\n

Drop is \u201cmuch more than expected\u201d<\/strong><\/p>\n\n\n\n

Blackout News<\/strong>\u00a0here reports<\/a>\u00a0on how industrial production in Germany has slumped \u201cmuch more than economists expected in June\u201d and that \u201cmany experts expect this trend to continue in the coming months.\u201d<\/p>\n\n\n\n

The results are based on data from the Federal Statistical Office released last Tuesday.<\/p>\n\n\n\n

Slump to continue<\/strong><\/p>\n\n\n\n

\u201cAlexander Kr\u00fcger of Hauck Aufh\u00e4user Lampe Privatbank thinks many companies are even more pessimistic than they were a few weeks ago,\u201d Blackout News adds. \u201cJ\u00f6rg Kr\u00e4mer of Commerzbank expects a further slump in the economy in the second half of the year.\u201d<\/p>\n\n\n\n

Germany\u2019s high energy costs driving inflation<\/strong><\/p>\n\n\n\n

Much of the decline in production is due to sectors hard hit by Germany\u2019s energy policies. One example is the automotive industry because its future is fraught with huge uncertainty as combustion engines are planned to be phased out.<\/p>\n\n\n\n

High interest rates dampening construction<\/strong><\/p>\n\n\n\n

The construction sector has been hit hard as well as energy norms and heating regulations for homes threaten to make building even more unaffordable to many. High energy prices also have fueled inflation, which in turn has forced bank interest rates up and made home financing unattractive. Building permits issued for new homes are extremely low.<\/p>\n\n\n\n

One bright spot has been the the aerospace sector. But overall the coming months continue to appear especially gloomy for Germany, Europe\u2019s largest economy. High energy costs have also led to many companies moving operations out of the country.<\/p>\n\n\n\n

According to analyst Jens-Oliver Niklasch of Landesbank Baden-W\u00fcrttemberg, \u201cIndustrial performance is rather weak at the moment.\u201d<\/p>\n\n\n\n

Until Germany gets back to reality with its energy policies, don\u2019t expect improvement anytime soon. Again, this is what the climastalinistas want.<\/p>\n\n\n\t

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