11 minutes agoWar in Ukraine hits German economy, these are the latest data
Periskopi(4 years ago)
(4 years ago)German industrial shipments have dropped sharply in March, it was said in data published on May 5th, as German ecomom has been hit by Ukraine's Russian invasion. The shipment fell by 4.7 percent in March, compared with the previous month, the federal statistical agency Destatis reported. This drop was [...]
The shipment fell by 4.7 percent in March, compared with the previous month, the federal statistical agency Destatis reported.
This decline was an indication of “the exact impact of the war in Ukraine is having on the German economy, the German Economy Ministry said through a statement.
The growth of uncertainty is reflected in more lack of remittances, separately in states not in the Eurozone”, the ministry said.
Foreign shipments outside the Eurozone were 13.2 percent in March, while demand outside the European bloc increased by 5.6 percent.
Orders within the country scored an 1.8 percent drop.
The biggest decline has been noted in capital goods, used by companies for production. Capital goods shipments marked an 8.3 percent decline.
“in these difficult political and economic times, this decline also shows reluctance to invest”, Destatis said through a statement.
There has also been a decline in other goods, while consumer deliveries have increased by 6.4 percent. /rel
