High Energy Bills Force German Industry to Eye Production Abroad
- Almost a third of manufacturers considering or executing shift
- Survey shows companies concerned about competitiveness
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German businesses are increasingly curbing investments and eyeing production abroad amid high energy prices at home.
Over half of surveyed companies say the energy transition is having negative or very negative effects on their competitiveness, according to a report by the German Chamber of Commerce and Industry. Among manufacturers, almost a third are considering or already executing a production shift abroad — twice as much as during last year’s energy crisis.