As German industry declines, the Ruhr gives hope
The resilience of the old steelmaking heartland is a model for the future
Germany is wilting. Last year its economy shrank by 0.3%, the worst result in the G7 group of rich countries. Deutsche Bank, the country’s biggest, reckons industrial output has sunk by 9% since 2018 and will fall another 2.5% this year. The talk in boardrooms is of creeping de-industrialisation as high domestic costs—especially for energy—push firms to relocate.
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This article appeared in the Europe section of the print edition under the headline “Back from the slagheap”
Europe February 17th 2024
From the February 17th 2024 edition
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