Topic: Germany surprises everyone, the economy keeps growing - page 3. (Read 494 times)

As always, your beloved stompix bringing you the good news that nobody wants to hear.
Keeping it up after my last one:
Eu gas and electricity prices drop 80% to 2021 level, another apocalypse averted
here is again, good news!

Europe’s top economy expanded by 0.3% in the third quarter
Archived since paywall!

Remember how Germany was supposed to plunge into recession, how according to some 60% (just lol) of the companies went bankrupt, how everything is shut down, how there is no more light, no more cars, how bla bla bla.
Well, again, completely defying propaganda Germany has managed to grow again, despite the highest energy prices ever encountered, and those are going down all the way in Q3, TTF day ahead spot prices crashing almost 10 times from the peak.

What's more interesting is that the whole EU economy still went up, and only one country posted you decline with 3 countries posting a previous trimester decline.

Of course, this doesn't mean everything is going perfectly, inflation was still up, but the ECB is finally starting to do its thing, and as I said a few months ago, doing it the right way, acting when it matters and with enough room left for more serious involvement, especially since one of the countries that posted surprising growth was Italy
Italy's economy grows stronger than expected 0.5% in Q3, easing pressure on new govt
and these numbers will help counter the fear of the consequences of further rate hikes.

Going back to Germany, there is the need to address one thing as I saw some quoting that large companies are fleeing to China and shutting down in Germany.
Of course, the usual crap, and the truth is completely different.

BASF planned to open a factory in China in 2019:
https://www.basf.com/cn/en/who-we-are/organization/key-production-sites/guangdong.html
BASF is a 80 billion a year in revenue company, with factories in 11 countries, investing 10 billion is nowhere near what a move would look like.

And furthermore, to counter all the doom and gloom and bankruptcy theories:
https://www.basf.com/global/en/media/news-releases/2022/10/p-22-381.html
BASF achieved solid EBIT before special items despite continued high raw materials and energy prices

As I said above, this doesn't mean that the EU will avoid a technical recession completely, since Q4 is always a slowdown, taking into account inflation and demand destruction we might still see a recession, I'm actually convinced there will be one in Q1 2023, but every single analyst out there no matter how negativist he is about this has slashed the decline numbers, from the worse -1.2 were slowly hovering to an average between -0.6% and -0.2% and not a single source is mentioning a decline in the whole 2023, as overall the economy will reverse the start of the year trend and still grow. Not as fast as predicted at the start of this year but not doomsday either.

So everyone should be happy, another apocalypse is being avoided, the economy works, employment is at record levels, people still have money, and people still afford to buy bitcoins, what do you get if you preach all day long about collapses and recession and bankruptcy?