CNBC: German economy enters recession as first-quarter GDP data is revised lower
* Data from the German statistics office on Thursday showed a downward revision to GDP from zero to -0.3% for the first three months of the year.
* Germany also recorded a 0.5% contraction in the last quarter of 2022.
The German economy entered a technical recession in the first quarter of this year, as households tightened spending.
Data from the German statistics office on Thursday showed a downward revision to GDP (gross domestic product) from zero to -0.3% for the first three months of the year.
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WNU Editor: Cannot say that I am surprised. This blog has been predicting a German recession since the start of the Russian - Ukraine war. After-all, what do you expect when you shut down your nuclear industry and pursue radical climate policies.
This is an energy induced recession, done deliberately by German leaders who are determined to shift Germany away from being a major industrial power to something else.
And the politics of these decisions is a sight to see.
The environmental fanatics of the Green Party are overjoyed that their policies have been enacted, and they have been helped by other German leaders who have shown no understanding (if they even care) on how their policies on commodities would impact the German economy.
And here is an easy prediction. It is going to get worse.
In my lifetime Russia is not going to open its energy markets to the West as they have done int he past. They have now shifted to the east (and elsewhere), and that is where their focus will be for the next few decades.
Bottom line.
The German/EU business model of cheap and reliable Russian energy products and an industrial base that develops and manufactures competitive high end technology products for export is now over, and the Germans are starting to experience the cost of those decisions now.
And if there is a cold winter at the end of this year, the political, social, and economic costs of those decisions are going to be enormous.
Germany's Economy Is Now Officially In A Recession
German economy enters recession amid worsening outlook -- DW
Germany falls into recession as inflation hits economy -- BBC
German economy entered recession as inflation hurt consumers -- Reuters
Germany in recession: Berlin braces for budget cut battle -- Politico
Germany falls into recession as consumers in Europe’s biggest economy spend less -- CNN
Germany falls into recession as high inflation hits economy -- Axios
Norway on the other hand is doing great! Gas sales are way up.
ReplyDeleteIt's the great reset - the same plans they have for Canada, UK, USA... the west will be consolidated under a new supranational body
ReplyDeleteTo compete with China they decided to become like China
Means, we have to hang them
Agreed. An intentional sabotage of our countries is under way. Canada will become the western Tibet. Can’t believe I’m saying this, but I’ll be off to Quebec to fight for the resistance. As much as don’t like the French, at least they stand up for themselves and have a backbone. Gotta respect them for that.
DeleteChinese Caught Red-Handed Stripping Allied WWII Grave for Scrap
ReplyDeleteIt won't take yellow journalism to get China and by extension Russia hated. The truth will do.
Don't know how many months or years it will take, but Germany will have Macron level of dissatisfaction and violence.
the Just Stop Oil group is getting a really odious reputation. When there is massive pushback against them including hooligans beating them down, the Greens will have the same treatment soon thereafter.
ReplyDeleteThe Russians have indeed found new markets for their products. They will be highly reluctant to return to selling material to Europe.
The sanctions are still brand new, only a year old. The Europeans will now face a slow strangling of thier economies. It will be a slow bleed out. Slow but sure, As stared before. These sanctions are a circle firing squad. Bottom line
Cui Bono? Certainly not the Russians and certainly not the Europeans.
Oops time for Germany to cut the defense budget again. I'm sure they can get a good deal on used Bangladesh mil hardware.
ReplyDeleteWar news is madness news
ReplyDeleteWar news is chimp news
DeletePutin cut deals for oil with China and India for cut rates.
ReplyDeleteAs Chris pointed out, industrial pollution has dipped since sanctions. Chris's statement is either true or false. I do not highly regard American humint, but the satellite imaging is very good.
So keep lying. you can be the warm up act or Baghdad Bob or WNU.
Chris is reliance on Sat imagery is not infallible. It is a guess. a big guess
ReplyDeleteAs stated before. all economic indicators for the Russian economy are green right now. The economy is not great but doing fine.
Give the devil his due
'
not bad for being under extreme sanctions and fighting a war at the same time.
Germany can solve its problems by leaving NATO. Then it can stay in the EU while doing all the deals it wants with East and West.
ReplyDelete"Chris is reliance on Sat imagery is not infallible. It is a guess. a big guess"
ReplyDeleteThere you go again.
they measure temperature, gas concentrations, air particulates (Sahara dust across the Atlantic is a fave), water, sea level height etc.
They measure the atmosphere gas and particulate concentrations particularly after 911. Some of it is pure science and there is no politics. Some has politics attached. But is has been going for decades.
But pull up a chair and give us the straight Russian troll gouge.
https://twitter.com/officejjsmart/status/1662105762447912962
ReplyDeleteFrance and Britain are not following Germany.
German is full of fuckhead politicians.
Natural gas in Europe is at a 2 year low.
3:20.
ReplyDeleteYes There I go again . Because SAT light data is not all inclusive. You also have to factor in Atmospheric conditions and date and time. You also do not know how many of the factories are working vs residential /office buildings in the same area.
If you take just Satelite information to determine economic viability you are going to have a skewed data. You also have factor in industrial prodeuction, financial health, market trends, GDP trends and unemployment.
Bottom line: you are guessing, using your methodology you have no idea what is really happening on the ground. But you go ahead and use fairly dust to make your proclamations.
Ask your self this.
If your data is so good, then:
When Russia is fighting a war while under severe sanctions which have hampered their economic output.
Why are the Russian export sales doing so well?
Why is Russian unemployment low?
Why is the Russian budget not broke.
Why are the russians not heavily in debt to finance the war?
Why is Russian GDP growing this quarter?
Why are the Russians not selling off thier assets like the Ukraininas to finance the war?
What are the Europeans COMBINED saying they cannot keep up with Russian munition and armaments production?
Why are the Arabs, Turks and other nations not fully in the US corner anymore?
I dislike ideologues like you. You sit in your little computer cubicle and send out half truth narratives to convince people that the BLOB narrative is true and all else is lies.
You suck. Your facts suck, your perspective sucks and you have no loyalty to the truth.
But what is really sick is that you work for the government and yet you seek to deceive your own people who you pretend to serve.. You are a disgrace to the oath you swore when you joined.