German economy is in recession

Germany’s gross domestic product shrank by 0.2% in the fourth quarter. However, a severe winter recession, which was feared in the autumn, has become less likely. Nevertheless, the risks to the economy remain high. I am somewhat more pessimistic regarding economic growth in 2023 than some of my colleagues.

German economy gets off lightly in the short term

Germany’s gross domestic product shrank by 0.2% in the fourth quarter. However, a severe winter recession, which was feared in the autumn, has become less likely. Nevertheless, the risks to the economy remain high. I am somewhat more pessimistic regarding economic growth in 2023 than some of my colleagues.

Political paralysis in the United States likely – also a problem for Europe?

After the midterm elections in the U.S., there is hardly any time to take a deep breath on the political level.

Further wave of pandemic delays recovery of the global economy

Against the backdrop of the omicron wave and continuing problems with international supply chains, the global economy lost further momentum at the beginning of the year.

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