ESSEN, Germany — For most of this century, Germany racked up one economic success after another, dominating global markets for high-end products like luxury cars and industrial machinery, selling so much to the rest of the world that half the economy ran on exports. Germany risks “deindustrialization” as high energy costs and government inaction on other chronic problems threaten to …
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The German economy appears to …
As Germany grapples with an energy crisis threatening its future as an industrial leader, an acute shortage of workers is compounding problems for manufacturers already struggling to stay competitive. “More and more companies are cutting back on their business because there just aren’t enough workers,” said Stefan Sauer, a labor market expert at the Ifo Institute in Munich. “In the …
Germany’s economy went into reverse at the end of 2021, as omicron combined with supply shortages left the industrial powerhouse further away from returning to its pre-Covid size. “No other eurozone country suffered as much as the German economy amid a series of supply chain frictions,” he said. “Industrial production has basically stagnated since spring last year, despite richly filled …
