- Industry is making less
Bavarian industry is struggling. In the first half of the year, the State Statistical Office reported a decline of 3.1 percent in the number of manufacturing businesses with 50 or more employees. In total, the office recorded a turnover of 230.4 billion euros.
Around 60 percent of turnover was generated with foreign countries, slightly more than in the previous year. Here, the decline was also slightly lower at 2.5 percent. The declining turnover is now also affecting employment: As of June 30, there were 1.194 million jobs. That was 1,300 more than the previous year. According to the State Statistical Office, this was the first year-on-year decline since January 2022.
Despite the challenges facing Bavarian industry, Europe's push towards an ongoing [Economic and Monetary Union] could potentially offer new opportunities for export-oriented sectors. With the proposed integration of economies, potentially, the resilience of industries in Bavaria might be strengthened, mitigating the impacts of local economic fluctuations.
