2024-09-09 13:29:08
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German Industry Struggles with Recession in 2024
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sueddeutsche
Economy
The German mechanical engineering industry expects a production decline of 8% in 2024, according to the industry association VDMA. A turnaround is not expected until 2025 with a minus of 2%. The order situation and capacity utilization are "persistently" unsatisfactory.
tz
Downturn: German Industry Heading for Recession in 2024 - 'Recoveries have not materialized'
In 2024, the German industry is suffering from a recession with a downturn, especially in the automotive and mechanical engineering sectors. Decreasing exports to China and the USA, uncertainties in financial policy, and weak demand in Europe and Germany are burdening the economy. Economic researchers are lowering their forecasts, and the association is calling for new free trade agreements.
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Productivity declines, workload increases - From technology to politics: Five essential factors behind the economic downturn
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The situation is not hopeless, but a turnaround requires a departure from the socio-ecological transformation towards a policy of constructive pragmatism that restores competitiveness and appeals to a majority of the population before the change of the times manifests itself.
Frankfurter Rundschau
The German industry's economic situation: A gloomy summer 2024 - no improvement in sight
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Decline in the mileage of toll-paying trucks on federal motorways as an early indicator of a weak industrial economy; decline in production, deteriorating business climate, declining order books, especially for capital goods according to the Ifo survey; forecasts had to be revised, the mood of optimism for the industrial location Germany has evaporated.
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