Experts see “Germany’s days as an industrial superpower are numbered”. Gross domestic product (GDP) fell by 0.3 percent in 2023 compared to the previous year.
According to a survey by the industry association VCI, almost every tenth company is planning to stop production. Large companies such as BASF and Lanxess have recently made massive job cuts. The speed of structural change is “dizzying”, says DIHK foreign trade chief Volker Treier.