The deindustrialization trend in Germany is accelerating. Industrial output dropped significantly in April as compared to March, and new business fell by 10.7% compared to the previous month—as much as it has over the entire three years (!) since the beginning of the coronavirus pandemic and its related industry shutdowns in April 2020.
The automotive industry had a particularly large share in the decline: Production here collapsed by 6.5% compared to the previous month. The machine builders produced 3.4% less. The construction industry reported a drop in production of 4.6%. Chemical industry was slightly better off with −2.0%.
