The price hikes for energy, particularly gas, have contributed to a “historic low” in Germany’s medium-run growth prospects, a recent report by the Council of Economic Experts found. Observers fear that the loss of access to cheap Russian gas and generally higher energy prices in the wake of the invasion of Ukraine could hamper industrial recovery. However, there is also hope that reforms at the national and the European level to increase efficiency as well as accelerate and better coordinate the roll-out of renewables, green hydrogen and other low-carbon technologies will trigger lasting improvements for the industry sector.