Despite high energy prices, private consumption has not collapsed.
(Photo: dpa)
Berlin Robert Habeck repeated his warnings this week. “The winter can be long and hard,” said the Federal Minister of Economics on Markus Lanz’s ZDF talk show. Despite the EUR 200 billion in government relief for companies and citizens, which is intended to help improve the economic outlook, the Green politician’s optimism was limited.
A few weeks ago, most economic forecasters shared Habeck’s concerns when they outdid each other with severe recession scenarios. The Association of German Chambers of Industry and Commerce (DIHK) predicted that gross domestic product (GDP) would shrink by three percent in the coming year.
The Institute for Economic Research Halle (IWH) forecast a decline in GDP of 1.4 percent. However, numerous important leading indicators for economic development are now pointing in a positive direction.
The mood in the executive floors of German companies is currently brightening. The Ifo business climate index rose to 86.3 points in October from 84.5 points in the previous month.
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