Because real incomes are falling, many consumers are switching to cheaper goods.
(Photo: IMAGO/Michael Gstettenbauer)
Dusseldorf The German economy seems to have grown again in the second quarter, which is drawing to a close – at least a little bit. The economists surveyed by the data service provider Bloomberg expect an average of 0.1 percent growth compared to the previous quarter.
This probable end to the recession is encouraging, but at this rate it would take two years to recover from the economic slump in the winter half-year. According to revised data, economic output shrank by 0.5 percent in the final quarter of 2022 and by a further 0.3 percent in the first quarter. High inflation and weak demand for industrial products made in Germany took a heavy toll.
Far more important than looking back is looking to the future – and that naturally involves a great deal of uncertainty.
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