April 2, 2023

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The German economy slows down in the winter

The German economy slows down in the winter

Nuremberg (DPA)

Economists at leading financial institutions in Germany have forecast a slowdown in the country’s economic growth this coming winter.
Among these experts, in a poll conducted by the German News Agency (dpa), Katrina Uttermol, an economist with Alliance Insurance Group, said that the German economy should be prepared for a difficult situation in the coming months. Eutermol expected that autumn indifference would continue.
At the same time, Utermol, like last year, rejected the winter slump in the economy, believing that weak demand from China exacerbated the problem.
For his part, Mark Schuttenberg, an economist at the Deutsche Bank Research Center, dismissed the rapid recovery, especially due to higher energy prices and the global supply crisis for electronic chips, and said: “Significant easing of the situation is not expected before the end of spring 2022.
Fritz Kohler-Kebe, economist at KFW, a government banking group, said the next recovery was expected to be slower than what had happened in the spring, adding that it was still difficult to predict how long the shortage of goods would last. And take production disruptions in markets. Globalization. The resulting supply problems and strong price rises, for example, have contributed to slowing the exit of raw material prices from the crisis.
Shuttenberg rejected the pace of overcoming the supply crisis due to technological requirements, some of which were so complex that he currently expected the German economy to grow only 2.5% this year. The economy will move on to next year as he expects 4.5% growth in 2022. The need to compensate for the production shutdown associated with the crisis.

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