In December, electric vehicle (EV) sales in Germany plummeted by half, year on year. The plunge led EVs’ Europe-wide sales to shrink for the first time since 2020.
Tag: Germany
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GERMANY’S ECONOMY SHRANK BY 0.3 PERCENT IN 2023
Germany—battered by high interest rates, slowing global sales and continued high energy costs—Europe’s largest economy and the fourth largest one in the world... saw the heart of its manufacturing industry contract by 0.3 percent in 2023, according to the country’s National Statistics Office.
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GERMANY’S FACTORY OUTPUT FALLS FOR A SIXTH CONSECUTIVE MONTH
In November, Germany’s industrial production edged down 0.7 percent from October, a month in which output fell 0.3 percent from September.
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82 PERCENT OF GERMANS DISAPPROVE OF GOVERNMENT
A newly released poll found that 82 percent of Germans are unhappy with their governing coalition headed by Chancellor Olaf Scholz, according to an ARD-DeutschlandTrend poll.
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GERMANY’S FACTORY OUTPUT SLOWS UNEXPECTEDLY IN OCTOBER
In October, for the fifth consecutive month, Germany’s factories reduced their output. Production fell 0.4 percent below September’s, which fell 1.3 percent from August.
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FRENCH ECONOMY SHRANK IN THIRD QUARTER
Surprising analysts, France’s economy contracted by 0.1 percent in this year’s third quarter, the national statistics agency said after revising its estimate down from an initial 0.1-percent gain.
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GERMANY ENTERING RECESSION, DATA SHOWS; BANKS AT RISK
After flatlining in this year’s second quarter, Germany’s economy contracted 0.1 percent in the third. New data shows GDP continuing to decline, leading the country’s central bank to predict another three months of shrinkage.
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GERMAN SHIPPING COMPANY SEES PROFITS TORPEDOED
German container shipping company Hapag-Lloyd reported profits this year through September were almost 80 percent below those of last year over the same period, falling to €3.2 billion.
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WAR IS THE ONLY ANSWER: GERMANY SAYS IT WILL DOUBLE MILITARY AID FOR UKRAINE
German politicians agreed in principle to double the country’s military aid for Ukraine in 2024 as the war shows no sign of ending.
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GERMANY’S PRODUCER PRICES FALL AT FASTEST PACE ON RECORD
The prices that German manufacturers charge for their goods plunged 14.7 percent in this year’s first nine months, the steepest nine-month plunge since records began being kept in 1949, the government reported.