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“Low growth is becoming the German norm”

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“Low growth is becoming the German norm”

There is currently little to suggest a more consistent traffic light policy. Conversely, does this mean that we shouldn’t expect too much from consumers as the driver of the upswing?
The recovery in consumption will continue in 2024 and 2025, given noticeable real wage increases. But it will be weaker if politicians do not support it accordingly. In this respect, it would be economically helpful if the traffic lights were less erratic, created more trust and provided clear lines. If politicians fail to achieve this, the income increases will not flow into consumption, but into savings. On average, people will not be able to afford the basket of goods that we were able to afford before the pandemic and the sharp rise in inflation until mid-2025 at the earliest.

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