Germany: industrial production -1.5% on an annual basis. The lack of energy and raw materials is felt
The crisis begins to make itself felt, and so does the lack of increasingly necessary raw materials and the industry begins to suffer, slowing down the output of products in a month that would normally be fully operational.
Industrial production in Germany increased by 0.2% in May 2022, a sharp slowdown from the revised 1.3% increase in April, due to the severe shortage of primary products and the constraints of the supply chain. supply caused by the war in Ukraine and closures in China, which continue to weigh on production. The data compare with the market forecasts of 0.4%. than here. Production of capital goods increased by 2.2% and the construction sector recorded an increase of 0.4%. On the other hand, there were drops in consumer goods (-0.9%) and intermediate goods (-0.4%), while energy production fell by 5.8%. On an annual basis, industrial production fell by 1.5%.
The situation is even better visible in a ten-year perspective, where, if we exclude Covid, 2021/22 looks like not brilliant for Berlin.
The German government is well aware that the worst moment of the crisis has not yet come, but that presumably will come when even the little gas coming from Russia will be interrupted, in mid-July, for the scheduled maintenance of Nord Stream 1, but it is not known. well if it will resume later. In Germany there is now talk of draconian plans which, after the Uniper rescue, would make the extra costs of gas fall on families, with them facing enormous bills, similar to the Italian ones. how long will social support for the traffic light government last in such a situation? Who will give up before Europe and Russia, in this tug-of-war?
He summed up well the drunkenness of the last two decades Hardness of living
Artificial intelligence. Hydrogen. Industry 4.0. Cryptocurrencies. 5G mobile. SpaceX. Tesla. Drones. Metaversi. Digital TV.
“Oh, ragassi, no water, no shower and no laundry. Ah, there is also a lack of energy, so lights out ”.
We presented: "Progress".
– The hardness of living
(@hardnessdelviver) July 4, 2022
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The article Germany: industrial production -1.5% on an annual basis. The lack of energy and raw materials is felt comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/germania-produzione-industriale-15-su-base-annua-la-mancanza-di-energia-e-materie-prime-si-fa-sentire/ on Thu, 07 Jul 2022 08:05:29 +0000.