“The eurozone economy is struggling to gain momentum. For six months now, growth has been minimal, with activity in the service sector stagnating and manufacturing output rising only moderately,” Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.
“In Germany, there are signs of a cautious improvement in the situation, but France continues to drag its feet”.
The expansion in the 20-country currency area was centred on the manufacturing sector, where production increased for the fourth successive month, according to the survey.
growth has been minimal, with activity in the service sector stagnating and manufacturing output rising only moderately
Growth is very slow? That does’nt sound too bad, as it probably mean we’re not having a larger negative effect on the environment and climate.
It’s more relevant to look at which sectors are growing vs shrinking. Ideally the most polluting sectors would be the ones shrinking.
Maybe it’s time to banish the myth of infinite growth once and for all? Maybe? Nah?
Western civilizations attach success to the wrong factors. I hate the idea of rapid business growth being necessary to be considered successful.
Yeah as a North American I always look sadly at so many of those European nations, not making any progress because they’re so busy providing healthcare and education for their people, wasting what’s left of their economic power expanding human knowledge while creating beautiful art and food and culture and protecting thousands of years of heritage and natural spaces. Socialist hellholes /s
Just think of all those lost profits and how high we could get one or two guys net wealth!
If anyone in those socialist hellholes needs an experience information security engineer, I’d love to protect things that actually matter for a change.
Growth is very slow? That does’nt sound too bad
It’s manageable in the short term, in the long term not so great… (https://www.perplexity.ai/search/what-happens-if-a-country-cont-cMVBH6grSxiue2WxpSi02g)
Ideally the most polluting sectors would be the ones shrinking.
That’s true but the problem is they’re not, the work is just shifting to China
Europe should want its heavy polluting industries to remain in Europe because at least you’re working on reining them in + Europe gets to keep jobs and put that money towards renewables and good things, if Europe taxes and regulates them so heavily they just go to China where they pollute at astronomical levels and Europe gets none of the benefits
“Too afraid of China:” Meyer Burger chief quits and lambasts EU for failing to defend solar industry
Skip forward a year:
In its present form the Swiss photovoltaic specialist Meyer Burger is now a memory. In the US, production has been stopped and 280 employees laid off. For the German subsidiaries – with over 600 employees – insolvency proceedings have been filed.
https://www.swissinfo.ch/eng/various/meyer-burger-at-the-end-credits/89451201
There’s more:
Germany’s biggest companies cutting jobs in Germany and investing in China
Volkswagen: Facing potential job cuts of up to 30,000 in Germany, Volkswagen has made significant investments in China, including 2.5 billion euros ($2.6 billion) to expand EV production in Hefei and a further 700 million euros in EV technology partnership with Xpeng.
BASF: The chemical giant is cutting 2,600 jobs, mainly in Germany, while investing 10 billion euros in a new chemical complex in Guangdong, China.
Bosch: Announced plans to cut 7,000 jobs in Germany as it increases investment in China’s e-mobility and automated driving sectors.
BMW: Expanded production in Shenyang, China, with a 2.5 billion euro investment, allowing the company to move production closer to its target markets.
SAP: Plans to cut 9,000 to 10,000 jobs in Germany while reallocating resources to high-growth markets abroad.
https://asiatimes.com/2024/11/germany-closing-factories-at-home-opening-them-in-china/
Mario Draghi released The future of European competitiveness
I really wish there was a way to keep up with what the EU has been doing with this info
Good point. But I also think we should look sector-to-sector at growth. Or, better, develop better metrics. There is a lot of BS in GDP (like, introducing a vaccine might easily have a “negative” impact on GDP, since it is more cost effective than curing the disease once it happens, and thus causes less expenditure). But there are activities we would like to grow (like, renewable energy manufacturing or a big chunk of the medical field).
And FYI, here are the updated statistics on trade with China, seems to be stagnating (maybe outsourcing to new “rising markets”)?
Damn a downvote for what? Even implying that Europe might not be perfect?
That downvote is not from me, but this community has drifted away from promoting European products and services to a general politics and economy forum.
