The German Steel and Metal Processing Association (WSM) has observed a four percent increase in production compared to the previous month. However, as production was 6.8% higher in the same month of the previous year, the association's incomprehension is great in view of the voices speaking of recovery. WSM Managing Director Christian Vietmeyer even sees the danger of the country becoming impoverished. He emphasizes: "If German industry migrates, prosperity goes with it. Huge numbers of jobs disappear; our sectors alone provide 500,000 jobs."
Production declines by seven percent
Production actually fell by a good seven percent in the first two months of 2024 compared to 2023. Incoming orders are weakening, while costs are rising. Holger Ade, Head of Industrial and Energy Policy at WSM: "Only 16% of steel and metal processing companies rated their business situation as good in March. One in three see the situation and future as negative."
More capital, skilled workers and energy
The WSM is calling for more room for maneuver for medium-sized industrial companies. Access to capital, skilled workers and affordable energy is necessary to implement transformation, innovation and climate protection.