this post was submitted on 23 Jun 2025
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Eurozone business activity almost flat again in June (www.france24.com)
submitted 1 month ago by Sunshine@lemmy.ca to c/buyeuropean@feddit.uk
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"The eurozone economy is struggling to gain momentum. For six months now, growth has been minimal, with activity in the service sector stagnating and manufacturing output rising only moderately," Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

"In Germany, there are signs of a cautious improvement in the situation, but France continues to drag its feet".

The expansion in the 20-country currency area was centred on the manufacturing sector, where production increased for the fourth successive month, according to the survey.

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[โ€“] Eyekaytee@aussie.zone 0 points 1 month ago* (last edited 1 month ago) (1 children)

Growth is very slow? That doesโ€™nt sound too bad

It's manageable in the short term, in the long term not so great... (https://www.perplexity.ai/search/what-happens-if-a-country-cont-cMVBH6grSxiue2WxpSi02g)

Ideally the most polluting sectors would be the ones shrinking.

That's true but the problem is they're not, the work is just shifting to China

Europe should want its heavy polluting industries to remain in Europe because at least you're working on reining them in + Europe gets to keep jobs and put that money towards renewables and good things, if Europe taxes and regulates them so heavily they just go to China where they pollute at astronomical levels and Europe gets none of the benefits

โ€œToo afraid of China:โ€ Meyer Burger chief quits and lambasts EU for failing to defend solar industry

https://reneweconomy.com.au/too-afraid-of-china-meyer-burger-chief-quits-and-lambasts-eu-for-failing-to-defend-solar-industry/

Skip forward a year:

In its present form the Swiss photovoltaic specialist Meyer Burger is now a memory. In the US, production has been stopped and 280 employees laid off. For the German subsidiaries โ€“ with over 600 employees โ€“ insolvency proceedings have been filed.

https://www.swissinfo.ch/eng/various/meyer-burger-at-the-end-credits/89451201

There's more:

Germanyโ€™s biggest companies cutting jobs in Germany and investing in China

Volkswagen: Facing potential job cuts of up to 30,000 in Germany, Volkswagen has made significant investments in China, including 2.5 billion euros ($2.6 billion) to expand EV production in Hefei and a further 700 million euros in EV technology partnership with Xpeng.

BASF: The chemical giant is cutting 2,600 jobs, mainly in Germany, while investing 10 billion euros in a new chemical complex in Guangdong, China.

Bosch: Announced plans to cut 7,000 jobs in Germany as it increases investment in Chinaโ€™s e-mobility and automated driving sectors.

BMW: Expanded production in Shenyang, China, with a 2.5 billion euro investment, allowing the company to move production closer to its target markets.

SAP: Plans to cut 9,000 to 10,000 jobs in Germany while reallocating resources to high-growth markets abroad.

https://asiatimes.com/2024/11/germany-closing-factories-at-home-opening-them-in-china/

Mario Draghi released The future of European competitiveness

https://commission.europa.eu/document/download/97e481fd-2dc3-412d-be4c-f152a8232961_en?filename=The+future+of+European+competitiveness+_+A+competitiveness+strategy+for+Europe.pdf

I really wish there was a way to keep up with what the EU has been doing with this info

[โ€“] Szewek@lemm.ee 3 points 1 month ago

Good point. But I also think we should look sector-to-sector at growth. Or, better, develop better metrics. There is a lot of BS in GDP (like, introducing a vaccine might easily have a "negative" impact on GDP, since it is more cost effective than curing the disease once it happens, and thus causes less expenditure). But there are activities we would like to grow (like, renewable energy manufacturing or a big chunk of the medical field).

And FYI, here are the updated statistics on trade with China, seems to be stagnating (maybe outsourcing to new "rising markets")?

https://ec.europa.eu/eurostat/statistics-explained/index.php?title=China-EU_-_international_trade_in_goods_statistics