It’s the energy, stupid

They may beat them in footbal (2-1 last night, without a manager) but…

German economic weakness belies France’s outperformance – Germany’s economic weakness is casting a flattering light on France’s relative resilience that belies the otherwise middling performance of the euro zone’s second-biggest economy, economists say…

Germany’s manufacturing-focused economy is struggling to adapt to being cutoff from cheap Russian gas and the rise of the electric vehicle, said Charles-Henri Colombier with the Rexecode economics think tank in Paris.

Germany’s gas-hungry chemical industry has seen production fall 18% from 2019 levels while in France it is only 8%, Colombier said. Meanwhile, German motor vehicle production is down 26% and only 6% in France.

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