Many consumers are apparently already trying to maintain their usual level of consumption.
(Photo: dpa)
Dusseldorf If one believes economists’ forecasts, the German economy was able to halt its downward trend in the second quarter. On average, the economists surveyed by the financial data service provider Bloomberg expect economic output to have grown by 0.1 percent in the spring compared to the previous quarter.
The Federal Statistical Office will also publish its flash estimate on July 31, but this is very susceptible to revisions. At the projected pace, it would take two years to catch up with the winter slump.
Gradually, the experts in the responsible federal ministries of economics and finance seem to be realizing that their spring forecast for the German economy can no longer be met – at the end of April the federal government had predicted growth of 0.4 percent for this year and 1.6 percent for the coming year.
Economics Minister Robert Habeck (Greens) spoke at the time of “good news” that the German economy was proving to be “adaptable and resilient in the energy crisis”.
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