Germany – production is declining – economy

The German economy, plagued by severe shortages of raw materials, surprisingly reduced production for the second consecutive month in September. Industry, construction and energy suppliers together produced 1.1% less than the previous month, as announced by the Federal Ministry of the Economy. Economists were forecasting growth of 1%. In August, at 3.5%, there was the largest drop since the first koruna wave in spring 2020. Production is currently 9.5% lower than in February 2020. “This means that the bottlenecks are growing. The long-standing strangulation of the supply of raw materials and preliminary products is reflected on a broader front, ”the ministry said. The outlook for the industrial economy remains bleak, although demand is high.

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