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Germany: "The recession is over."

Germany: "The recession is over." ;The German economy could recover from the corona shock faster than many thought. Economists are optimistic due to

Germany: "The recession is over."
Yazar: Zack Smith

Yayınlanma: 25 Temmuz 2020 18:34

Güncellenme: 19 Kasım 2024 09:52

Germany: "The recession is over." The German economy could recover from the corona shock faster than many thought. Economists are optimistic due to promising signs. But they warn of premature cheers. Economists at leading financial institutions believe that the German economy is on a recovery course after the Corona slump. "The leading indicators make us optimistic," said Marc Schattenberg from Deutsche Bank in a survey by the dpa news agency. The second quarter, which marked the height of the corona crisis, was surprisingly robust. With regard to the latest indicators, Katharina Utermöhl from the Allianz Group said: "The recession is over." The German economy was no longer in intensive care. The situation remains critical, however, and setbacks cannot be ruled out.
Exports have also picked up again, and the losses in the Chinese business, for example, are not as great as feared, said Schattenberg. Nevertheless, he warned: "In the second half of the year, trade risks will also come into focus again." The news that a disorderly Brexit is likely after the end of the transition period at the end of the year is not good, he emphasized. The development in the USA is being observed with great uncertainty, where the corona crisis is particularly damaging.
 

The job market is surprisingly stable

  Utermöhl expects an increase of 119,000 unemployed in July compared to June. With a total of 2,972 million unemployed, the three million euros would come close. Deutsche Bank economist Schattenberg even sees a seasonally adjusted figure just above the three million euros. The job market is surprisingly stable, said Niklasch. "It is likely that the seasonally adjusted increase in the number of unemployed in July will be only marginally around 50,000." In July there were again announcements of job cuts in the industry. "But the numbers passed around mostly extend over longer periods of time." You might also be interested in:

Industrial production in Germany was lower than expected in May

   
Sonraki

Deutschland: "Die Rezession ist vorbei."

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