Forecasts are becoming increasingly gloomy
Things are looking bleak for Germany’s economy: the forecasts for economic growth are getting worse and worse. The industry is migrating. Inflation continues. Germany impoverished.
Photo: Pixabay Published: 06/23/2023 – 12:13 p.m
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How many dark clouds on the horizon still have to gather before politicians finally draw consequences from their mistakes? The German economy is doing badly. And the numbers keep getting worse.
According to an economic forecast by the Ifo Institute German economic output will fall by a total of 0.4 percent in 2023 [siehe auch Bericht FAZ]. Compared to the other European countries, Germany is clearly at the bottom of the table when it comes to economic growth.
The Institute for Macroeconomics and Business Cycle Research (IMK) assesses the situation even more pessimistically. Accordingly, economic output is expected to shrink by as much as 0.5 percent this year.
Added to this is the loss of purchasing power for citizens, which leads to a drop in private consumption. This contributes to the slowdown of the economy.
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