According to former Financial Times’ journalist, Wolfgang Münchau, Germany’s economy would be Kaput.
How could that be? After all, Germany has long been a world champion in manufacturing, especially for motor vehicles, chemicals, and machine equipment, and Europe’s leading economy.
“Speicherstadt” District in Hamburg, Germany.
Photo by Claudio Testa on Unsplash
| The numbers here might look funny until you realize that in their summary they are only reporting on petroleum consumption. I have no idea why they did this. |
| This is a good graphic as it shows the source of energy and where it is used and what the losses are in the transmission of electricity. It is showing the situation for the full year of 2023. Notice that in this graphic Transportation and Industrial are about equal in terms of usage. |
| The main takeaway here is the small role of renewables. Also, the increasing role of natural gas is important. |
| This is from the 2023 EIA Annual Energy Outlook. I did not have enough time to really review this but it seems inconsistent with the data in the Monthly Report. It is important to remember that the information in the November Monthly Report may only be current as of August as it takes the EIA a lot of time to collect and validate information. That information indicated that transportation far exceeded the industrial sector and the commercial sector used very little energy. So I will try to sort that out. For sure there is a seasonal impact with respect to transportation. It is always difficult for me to work with EIA data. |
Authored by Steven Hansen
EconCurrent‘s Economic Index marginally declined with a downwardly revised September forecast and again returned to negative territory. Inflation overall remains unchanged compared to last two months – a strange situation after the Federal Reserve declared progress on curtailing inflation. Currently, we do not forecast a recession in the near term. Read on to understand the currents affecting our economic growth.
Authored by Steven Hansen
EconCurrent‘s Economic Index marginally improved over a downwardly revised September forecast and continues in negative territory. Inflation overall remains unchanged compared to last month – a strange situation after the Federal Reserve declared progress on curtailing inflation. Currently, we do not forecast a recession in the near term. Read on to understand the currents affecting our economic growth.
Written by Steven Hansen
The Federal Reserve data release (Z.1 Flow of Funds) – which provides insight into the finances of the average household – shows most Americans are worse off in the second quarter of 2024 than they were in the first quarter – and also are worse off than they were one year ago. This is notwithstanding that their average net worth increased from $152,985 one year ago to $163,797 in 2Q 2024.
It is a thorough report on the possible impacts but a bit short on data as to what the impacts have been but there is quite a bit of data in the report it is just not complete. It is a very interesting report to read on Labor Day. |
Authored by Steven Hansen
EconCurrent‘s Economic Index marginally improved and is slightly in positive territory. The economy is stratified with some sectors going gangbusters, other sectors barely above recessionary levels, whilst other sectors are in recession territory. Inflation continues its snail’s pace moderation. Currently, we do not forecast a recession in the near term. Read on to understand the currents affecting our economic growth.
Authored by Steven Hansen
EconCurrent‘s Economic Index marginally improved and is slightly in negative territory. The economy remains very stratified where some sectors are going gangbusters, other sectors are barely above recessionary levels, whilst others are in recession territory. A new index is now indicating a recession is coming. Read on to understand the currents affecting our economic growth.
Authored by Steven Hansen
EconCurrent‘s Economic Index marginally declined but remained slightly in positive territory. The economy remains very stratified where some sectors are going gangbusters, other sectors are barely above recessionary levels, whilst others are in recession territory. A fourth potential major index is now likely indicating a recession is coming. Read on to understand the currents affecting our economic growth.