"The economic recovery is expected to continue when winter is over," Ifo president Hans-Werner Sinn said. Obviously not all of the problems could be attributed to the weather however the harsh winter has frozen over construction sites and consumer wallets. This only further interests me as to whether there has been an index that attributes certain economic problems to severe weather conditions.
Thursday, February 25, 2010
Winter chills outlook for European economic thaw
This article is interesting because it is the second one I have come across about how severe climate changes have impacted the economy. Last time I posted an article about the affect of the chilly temperatures on American unemployment levels and this article mimics the sentiments described in that article however in this case, it affected the German and French consumers.
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Its a fact that no one is happy when it is cold out I suppose that translates to the global economy as well. This is an interesting article as it talks about how construction has been stalled in Germany and how that has drastically affected their economy.
It makes sense that consumer spending falls in colder weather conditions, and that people working for outdoor jobs such as construction slow down. But, I wonder if it also holds true for those who work indoors where their productivity level at work also slows down. Even though they aren’t exposed to the colder weather while at work, I wonder if it just being a colder time of the year has an effect on their mindset enough to slow down worker efficiency indoors. My guess is that it does.
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