German steel production drops by over 50%

[Syt]

http://www.forextv.com/Forex/News/ShowStory.jsp?seq=942913&category=Economic+News

German April Raw Steel Production Drops Further
05/11/09 02:30 am (EST)

(RTTNews) - Monday, Germany's Federal Statistical Office announced that the raw steel production in metallurgical plants declined 53.1% year-over-year to 1.88 million tones in April, compared with a 49.8% fall in the previous month.

At the same time, pig iron production dropped 56.8% to 1.06 million tones, after falling 50.3% in March.

This was the highest annual decline of pig iron and raw steel production since German reunification, the Destatis said.
Monday, Germany's Federal Statistical Office announced that the raw steel production in metallurgical plants declined 53.1% year-over-year to 1.88 million tones in April, compared with a 49.8% fall in the previous month.

According to German sources that's the lowest level of steel production since the 1950s and is linked mostly to the weak demand from automobile, machine production industries in the wake of the global crisis.

[Josephus]

Hope they're not planning on going to war soon. 

[Iormlund]

Damned events messing with the sliders. I hate when that happens.

[jimmy olsen]

Hope they're not planning on going to war soon. 

Actually, since consumer demand has plunged, a lot more IC can be spent on production.

[HisMajestyBOB]

Hope they're not planning on going to war soon. 

Actually, since consumer demand has plunged, a lot more IC can be spent on production.

But their IC is gonna drop like a rock when they run out of metal.
Hopefully they've been stockpiling.

[Faeelin]

And shortly thereafter....

German economy needs food badly!

[Darth Wagtaros]

Hope they're not planning on going to war soon. 

Actually, since consumer demand has plunged, a lot more IC can be spent on production.

But their IC is gonna drop like a rock when they run out of metal.
Hopefully they've been stockpiling.

Its not the metal, its the rubber and oil.

[Zanza]

Actually, since consumer demand has plunged, a lot more IC can be spent on production.

We had slider settings for low consumer demand even before the crisis, so not much changed there.

[The Brain]

They are Germans. They can survive on a handful of rice and bamboo shoots a month.

[FunkMonk]

Must... achieve... autarky.

[Warspite]

Does this event affect German slider settings?

[Olive]

Thanks for sharing the link.

[Norgy]

Hope they're not planning on going to war soon. 

A war would boost demand.
It is bound to happen. And Russia's still there.