Economy : the European crisis is getting worse

In Germany, industrial orders dropped again, in Great Britain, the manufacturing production was decreasing between April and June for the second consecutive term : the European crisis is getting worse. La Tribune reviewed the situation in its edition of August 7th 2001, with a series of articles on the following theme : "The Industrial Europe is facing a crisis ". The review isn’t encouraging because the other countries follow the trend of the German driving force (it represents 40% of the industry within the Union). « The Italian production faces a 1.9% slowdown compared to its level in spring 2000 ; the Spanish industry, in very good health not that long ago, is now decreasing ; and only the French industry still has a little bit of energy, but the trend is all the same clear ». This big summer slump might have knock-on effects in September.