What are the problems of the industry
economy : German industry is feeling problems from southern Europe
Berlin - The labor market in this country is still stable, the economy continues to grow. But leading economic indicators show that Germany, too, cannot escape the debt crisis of the southern European countries. More and more companies in the EU are registering falling demand. The local machine builders also dampened their previously strong optimism on Wednesday. Another indicator is only a slight increase in the number of car registrations in this country.
The Markit Institute's regular survey of 3,000 purchasing managers showed falling values for the third month in a row. "The weakness is now spreading in the core countries, while the peripheral countries remain deep in recession," said a statement on Wednesday. "Even Germany's industry is going downhill now," said Markit economist Rob Dobso. The sector shrank for the first time in two years, the Markit purchasing managers index fell by 1.2 to 49.1 points and slipped below the growth threshold of 50 points.
"According to the respondents, the increasingly uncertain economic outlook was responsible for the drop in demand," wrote the Markit experts. This has led the companies to reduce their stocks and postpone investment decisions.
The Markit numbers confirmed machine builders in parts of Germany on Wednesday. They are continuing their growth path despite the debt crisis and the sluggish economy. In September, however, the key industry lost much of its pace and was only able to increase its incoming orders by only one percent compared to the previous year, as announced by the Association of German Mechanical and Plant Engineering (VDMA) in Frankfurt. In the previous month, orders had grown even more strongly with a plus of 14 percent.
The euro crisis apparently also unsettles consumers. This is indicated by figures from the Flensburg Federal Motor Transport Authority (KBA). Accordingly, around 258,000 new cars were registered in October - that was an increase of just 0.6 percent after months of strong growth rates. So far, Germany has been the only bright spot in terms of car demand in Europe, where the southern European countries in particular are groaning under the debt crisis. Because of the weak sales there, exports were also thrown out of step, which has so far guaranteed high capacity utilization in the car plants. rtr, kph
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