Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
dpa

HOME > dpa

German economists see no recession this year, but dangers remain

March 27, 2023


Abstract : The German economy has averted a feared recession and the outlook is slightly better due to a more stable energy supply, a German expert advisory panel said.

CAPTION: German economists see no recession this year.(picture alliance/Rupert Oberhäuser)

The German economy has averted a feared recession and the outlook is slightly better due to a more stable energy supply, a German expert advisory panel said.

Overall, however, the situation remains tense, warned the German Council of Economic Experts, an academic body that advises the government on economic policy issues.

Gross domestic product (GDP) should grow by 0.2% this year, following an earlier prediction that it would shrink by the same amount. For 2024, GDP is expected to grow by 1.3%.

"The loss of purchasing power due to inflation, worsening financing conditions and only slowly recovering foreign demand are preventing a stronger upswing this year and next," said Monika Schnitzer, chairwoman of group.

A noticeable easing in consumer prices is not expected until next year because rising wages and high producer prices will keep inflation from falling for now, panel member Martin Werding said.

"Inflation is increasingly reaching across the whole economy," Werding said.

In the current year, the economic experts expect an inflation rate of 6.6%. Next year it will then fall to 3.0%, it predicted.

In autumn, the experts warned of considerable downward risks, mainly because of the impending gas shortage. At that time they predicted a recession, taken to mean two consecutive quarters of negative GDP growth.

Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.

Scan the QR code and push it to your mobile phone

Keyword: recession

Reading:

Int'l investment in China jumps, displaying global confidence in Chinese economy

Interview: China to see consumption-driven economic rebound in 2023 with modest rise in inflation

German factory orders rebound in December

China Focus: China's warming foreign trade boosts global economic recovery

DIHK: Threat of German economic crash averted

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial