Germany’s Dried-Up Rivers Cut Growth But the Rebound Is Coming

Sinking water levels on Germany’s industrial rivers probably shaved at least 0.7 percentage point off economic growth last year, adding to a series of shocks that almost tipped the nation into a recession.

JPMorgan economist Greg Fuzesi estimated the impact of the high temperatures and low rainfall that dried up waterways -- most notably the Rhine -- hindering transport and curbing production processes that use river water for cooling.