#automotive-sector

#automotive-sector

Germany's industrial companies have cut around 124,100 jobs last year, showing an increasingly negative trend after 56,000 positions were lost the year before, according to an analysis by auditing firm EY. EY said employment in industry has fallen by about 266,200 jobs, or nearly 5%, since the pre-pandemic year of 2019, with the sharpest reductions recorded in the automotive sector.

South African equities experienced a notable decline on Friday, with the JSE FTSE All Share Index falling below the critical 100,000-point mark due to fading market momentum.

The DAX rose on Wednesday, led by a strong performance in the auto sector after a trade agreement between the United States and Japan lifted investor sentiment.

Industrial production rose by 1.2 percent month-on-month, driven by a surge in energy output and a strong performance from the automotive sector, where production increased by 4.9 percent.