The de-industrialisation of Germany 🇩🇪- Part 10: Read description

The de-industrialisation of Germany 🇩🇪- Part 10:

🔹The HCOB Flash Germany Composite PMI Output Index - which gauges activity in the manufacturing and services sectors -fell to 44.7 in August, from 48.5 in July, the lowest level since May 2020.

🔹German Chamber of Commerce and Industry Survey -
52% of co.'s say the 'green' energy transition has a negative impact on their own business.
32% of industrial co.'s plan relocation of capacities abroad or reduction of production in Germany.

🔹 Mail order retailer 📦, Klingel GmbH (Bell group) declares bankruptcy after 100 years in operation.

🔹German industrial 🏭 production weakened further in July, with energy-intensive industry approaching again the low, set in Dec. 2022.

🔹50,600 businesses closed down in H1 2023, an increase 📈 of 12.4% compared to H1 2022. In balance, there has been an increase in new start-ups. The number of corporate insolvencies rose 23.8% in July compared to July '22.

🔹 The outflow of capital from Germany since 2013 has exceeded $600 billion, with almost half of that happening in the last two years.

🔹Allensbach Survey -
58% of business executives said that Germany has passed its zenith.
76% of managers believe that concerns are justified over de-industrialization.

🔹 The ifo Business Climate Index (July 2023) has fallen 📉 for the third month in a row.

🔹The number of company bankruptcies in EU 🇪🇺 countries in Q2 2023 increased by 8.4% compared to Q1, reaching the highest level measured since 2015, when data began to be collected.

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