Tag: invasion

“European industry — and Germany first and foremost — was battered by the surge in energy prices following Russia’s invasion of Ukraine. The bloc rode out the immediate emergency better than expected, finding alternatives to Russian gas, for example, through imports of U.S. liquefied natural gas.
But the hope that European industry would swiftly recover has faded, even as the eurozone economy in the aggregate returns to growth.

Eurostat’s industrial production index for the eurozone remains below its 2021 level, and is trending lower. And policymakers are starting to realize that the turnaround they had expected is not materializing.”

…

“The numbers underline the challenge of maintaining Europe’s competitiveness — and relevance — as China and the U.S. race to reshape the global economy within the context of an increasingly acute geopolitical rivalry.”

https://www.politico.eu/article/europe-manufacturing-industry-slump-weakened-eurozone-economy-energy/