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The de-industrialisation of Germany 🇩🇪- Part 13:
🔹 An Allianz Trade bankruptcy study shows a sharp increase in German corporate insolvencies in 2H 2023, up 23% 📈 YoY. For 2024, bankruptcies are expected to increase further with a forecast of around 20,260 cases, up 9% YoY.
🔹Bundesbank report shows economy likely in recession for Q1 2024, citing "industry will likely remain in a weak phase".
🔹EU 🇪🇺 industries are struggling, with industrial output falling by 5.7% in Jan. '24 and nearly one million manufacturing jobs lost in the past four years. EU-China relations is in a downward spiral as China 🇨🇳 relies less on Western markets for manufacturing and technology goods.
🔹 Glass manufacturer Ritzenhoff of Hochsauerland declares bankruptcy after 120 years of operation.
🔹205,000 German jobs threatened or lost in 2023 by company insolvencies.
🔹Over 330 years after its foundation, the Koblenz Brewery auctions off its inventory after filing for bankruptcy.
🔹 Kitchen accessories manufacturer M. Westermann of North Rhine-Westphalia, bankrupt after being founded 150 years ago.
🔹 The KaDeWe Group (owner of several of Germany's most iconic high-end department stores) have applied for restructuring under self-administration, a type of bankruptcy filing.
🔹 Mattress manufacturer, the Breckle Group, which has existed since the 1930s is insolvent.
🔹 German firms committed $15.7 billion in capital projects to the U.S. last year, marking a steep rise on 2022’s figure of $5.9 billion.
Previous parts on the de-industrialisation of Germany 🇩🇪:
💠 Part 12- Jan. '24
💠 Part 11- Oct. '23
💠 Part 10 - Sep. '23
💠 Part 9 - Aug. '23
💠 Part 8 - Jun. '23
💠 Part 7 - May '23
💠 Part 6 - Mar '23
💠 Part 5 - Feb. '23
💠 Part 4 - Jan. '23
💠 Part 2 and Part 3 - Nov. '22
💠 Part 1 - Oct. '22
Video Source: Afd in English
🔹 An Allianz Trade bankruptcy study shows a sharp increase in German corporate insolvencies in 2H 2023, up 23% 📈 YoY. For 2024, bankruptcies are expected to increase further with a forecast of around 20,260 cases, up 9% YoY.
🔹Bundesbank report shows economy likely in recession for Q1 2024, citing "industry will likely remain in a weak phase".
🔹EU 🇪🇺 industries are struggling, with industrial output falling by 5.7% in Jan. '24 and nearly one million manufacturing jobs lost in the past four years. EU-China relations is in a downward spiral as China 🇨🇳 relies less on Western markets for manufacturing and technology goods.
🔹 Glass manufacturer Ritzenhoff of Hochsauerland declares bankruptcy after 120 years of operation.
🔹205,000 German jobs threatened or lost in 2023 by company insolvencies.
🔹Over 330 years after its foundation, the Koblenz Brewery auctions off its inventory after filing for bankruptcy.
🔹 Kitchen accessories manufacturer M. Westermann of North Rhine-Westphalia, bankrupt after being founded 150 years ago.
🔹 The KaDeWe Group (owner of several of Germany's most iconic high-end department stores) have applied for restructuring under self-administration, a type of bankruptcy filing.
🔹 Mattress manufacturer, the Breckle Group, which has existed since the 1930s is insolvent.
🔹 German firms committed $15.7 billion in capital projects to the U.S. last year, marking a steep rise on 2022’s figure of $5.9 billion.
Previous parts on the de-industrialisation of Germany 🇩🇪:
💠 Part 12- Jan. '24
💠 Part 11- Oct. '23
💠 Part 10 - Sep. '23
💠 Part 9 - Aug. '23
💠 Part 8 - Jun. '23
💠 Part 7 - May '23
💠 Part 6 - Mar '23
💠 Part 5 - Feb. '23
💠 Part 4 - Jan. '23
💠 Part 2 and Part 3 - Nov. '22
💠 Part 1 - Oct. '22
Video Source: Afd in English