The German Steel and Metal Processing Association (WSM) registered an economic "a develerated catch-up process" in February 2022. One year later, things are still sticking: according to the German Federal Statistical Office, production figures fell by 0.3 percent in the previous year compared with 2021. "No black zero," as the WSM says. It calls for immediate action by politicians and measures that actually relieve the burden. "We need a reduction in bureaucracy at last - to get a free economic stimulus package," says WSM CEO Christian Vietmeyer.
In year-on-year comparison, the manufacturing sector fell 1.6 percent in December 2022. Although the fourth quarter of 2022 was slightly better overall than 2021 - there´s only a meagre plus of 0.9 percent. On top of that, the trend points downward: manufacturing lost 3.4 percent in the fourth quarter of 2022 compared to the third. "We need decisions now to unleash growth forces, not to slow them down. 2023, the 'Year of Industry,' needs an avowed 'yes' to Germany and Europe as a business location - as a prelude to a long-term industrial policy," says Holger Ade.