German industrial production fell in April 3.4% yoy
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Political correctness
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The automotive industry is having a bad year so far.
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Why is it having a bad year?
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The price of electricity in Germany is becoming abnormally high. Germans pay $0.34/kilowatt hour. China pays $0.10/kilowatt hour USA pays $0.12/kilowatt hour Their policy of Energiewende has failed miserably. I used to design high throughput mfg facilities.
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I can't build a civilization off of <1 to 2 MWh/capita annum and it's increasingly difficult to do so at $0.15/KWh. I need steel & Nitrogen to build a civilization, if the cost is too high to produce these, it afflicts everything else.
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Daimler has sold about zero cars in Norway and are firing people. Because
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With -1,9% (not - 3,4%)in April, it's the biggest plunge in the past years... As for the why
@paulg = https://www.bloomberg.com/news/articles/2019-06-07/german-industrial-output-plunges-most-in-almost-four-years …Thanks. Twitter will use this to make your timeline better. UndoUndo
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With -1,9% (and not - 3,4%)it's the biggest plunge in the past years. As for the why
@paulg = https://www.bloomberg.com/news/articles/2019-06-07/german-industrial-output-plunges-most-in-almost-four-years …Thanks. Twitter will use this to make your timeline better. UndoUndo
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