- 2024
- February
- 9
- Green Energies Shattering German Economy…Industrial Production Falls 7th Consecutive Month
Green Energies Shattering German Economy…Industrial Production Falls 7th Consecutive Month
By P Gosselin
-1.6%!
That’s how much Germany’s industrial production fell in December, 2023. It’s the seventh-straight month of decline as the country’s energy woes mount.
One reason is reported by the Wall Street Journal (WSJ) reports today :”Germany’s Industrial Production Falls For Seventh-Straight Month” in December 2023, far worse than expected.
To underscore the seriousness, 2023’s industrial production result is a whopping 10% below pre-pandemic levels.
One of the major drivers behind the demise is arguably the country’s disastrous energy policy, which has entailed shutting down cheap and steady conventional sources such as nuclear and natural gas and increasingly relying on unstable wind and solar energy. Energy prices have soared over the past years, thus driving inflation.
Things aren’t expected to improve much any time soon as the country is currently being plagued by strikes by train drivers, airport and airline personnel, who are fighting for higher wages that have been eroded away by high inflation. Energy supplies remain unstable and are expected to stay high.
Farmers are angry and have been demonstrating for weeks, often blocking transportation routes.
If there’s any light at the end of the tunnel, it’s a very faint one and the tunnel may be very long.
Currently many companies are announcing plans to move operations to business- friendlier locations.
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