Not a day goes by without bad economic data. On Monday they affected retail. Contrary to expectations, his income did not increase in June, but decreased. In the first half of the year, retail sales were 4.5 percent less in real terms than in the same period of the previous year, according to the Federal Statistical Office. Last week, new figures on the development of gross domestic product – stagnation instead of growth – and the forecast of the International Monetary Fund caused a stir. The IMF expects a decline in economic output for Germany this year. Even the Brexit-stricken Brits should do better.
It had already become apparent in the past few months that the situation in Germany was not improving, but was continuing to deteriorate. But many politicians in the government wanted nothing to do with the crisis. The Chancellor promised a new green economic miracle. Everything is heading towards Germany, said Olaf Scholz (SPD) back in June at the “Industry Day” in Berlin. But now the nervousness is growing.