Germany's government confirms second year of recession | DW News

The German government has updated its growth forecast for the country’s economy. It is now expecting GDP to drop 0.2 percent for this year, making it the second year in a row with a shrinking economy. We’re talking to ING chief economist Carsten Brzeski about the reasons for Germany’s weakness, how the country stacks up compared to other economic superpowers – and what the future will hold.

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#Germany #Economy ä#Recession

[koblongata]

maybe it's because they are still using fax machines

[lawrya]

The German government is reactive, not proactive. Moreover the Government punishes people working with heavy, complicated taxes and rewards people who decide not to work.

[ldfashined]

As if I needed the confirmation to be sure... Life in Germany has deteriorated on multiple fronts, no need to point out the obvious at this point.

[ADhammer]

German industry is not competitive without cheap Russian gas.

[amandamate]

Over the next five years, an estimated 5 to 7 million Germans will leave the labor market due to retirement
This demographic change is expected to worsen the problem of lack of qualified workers

[NihilNovi]

Germany did not simply "forgot" to invest, the German governments of the past decade actively avoided investments ("Schuldenbremse"). Another massive mistake was the phase out of nuclear energy in favor of cheap authoritarian gas.
What Germany needs is a massive investment in education, infrastructure, entrepreneurship and future technology research. Abandon the idea that the automotive industry will continue to drive prosperity, these days are long gone.
With a likely future populist government these problems will only get worse.

[piuswanyaga]

What an irony😂😂. The people who are analysing German economy are the ones selling them oil 3 or more times the price of Russian oil.

[hermesliteratus]

It's incredible that Germans are still debating a fact.

[harryleon]

As they say in Ukr. Its advancing backwards

[frcluc]

I thought Germany had opened the doors to millions of engineers and health professionals these past decade to help the country out?

[jonathanokocha]

Very difficult to do business in Germany. Too much fees, cost for small business and a lot of them are unnesscery. To grow the economy must be smaller companies starting up and able to compete globally. A lot of stagnant policies must be relaxed.

[greatsuccess]

The only thing that still progressing in Germany are breweries.

[eatcarpet]

Yeah, we knew this would happen as soon as they cut Russian gas.

[ylee]

Germany is falling behind Korea in EV, batteries, digitalization, nuclear power plants, etc etc.

[masonhancock]

Fact: most job postings do not include the salary. This kind of bizarre stuff is everywhere in the system.

[RobdeBoer-im]

Needless to say, however not mentioned here, that the forced closing of the German nuclear plants resulted in an energy shortage that resulted in very expensive energy. That in turn brought the German industry to the brink of collapse. It is certainly not the only German mistake, for some reason they now choose the wrong path on an almost daily basis, but a big mistake for sure. By the way: can someone tell me how many big earthquakes and tsunami's there were in Germany during the past 13 years? That was the reason for closing them.

[phoque]

From watching mainstream news, you would expect the Russian economy would be failing, but instead, it's Germany's 🤷‍♂

[urbansenicar]

All is not lost!
Scholz and Leyen are yet to decide how to set your thermmostat.

[barrylane]

The Greeks must be laughing their heads off at all of this!!! Schadenfreude?

[almdrs]

Fire Ursula von der Leyen and you'll get better. She's being dragging Germany down.
She's always on the wrong side no matter what.