Industry

German economy 'falling behind' as Southern Europe GDP soars


He pointed out: “In other countries, the domestic consumer and other sectors such as construction have improved markedly, and their economies are less reliant on their respective industrial sectors.”

However, he predicted an easing of supply chain shortages in 2022 would see issues with German manufacturing start to decline.

Germany saw a slight improvement in manufacturing output for October according to figures today though Commerzbank chief economist Joerg Kraemer warned: “Industry is not out of the woods yet.”

Interestingly today’s GDP figures show a strong performance from a number of Southern European countries with GDP at 2.9 percent in Portugal and 2.6 percent in Italy.





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