Economy in Saarland 2024: increasing challenges and dark prospects!

Economy in Saarland 2024: increasing challenges and dark prospects!

Saarbrücken, Deutschland - A preliminary record of the Saarland economy for 2024 shows worrying trends. As the Statistical State Office Saarland , the processing industry has come under great pressure. Industrial production has noticeably decreased in the first three quarters of the year due to high energy costs and structural challenges. The orders decreased by 6.4 percent, especially from abroad, where a decline was recorded by 18.4 percent. Key industries such as vehicle construction and mechanical engineering, which had to accept strong declines of sales, are particularly affected.

Development in construction and energy generation

In the construction industry, a mixed picture shows: While the order intake has increased compared to the previous year, the overall nominal turnover fell slightly. The activities in particular dampen the high property and construction costs and the number of approved building applications is significantly declining. In the area of energy generation, a dramatic decline in electricity production was determined, with the use of hard coal decreased by 79 percent. Despite the stagnating feed -in from renewable energies, the production of wind power and photovoltaics remained stable.

The final figures by the end of November also show an increase in unemployment in Saarland to 37,176 people, which means 5.0 percent increase compared to the previous year. The unemployment rate is now 7.0 percent, while the proportion of long -term unemployed people is alarming. Inflation has reached the lowest level in September 2024 since May 2021, but at the same time energy and food prices continue to increase, which puts households under pressure, such as Saarland.de reported.