Enlarge image
Track system at the port of Hamburg
Photo: Daniel Reinhardt / DPA
According to the leading research institutes, Germany cannot escape a recession.
Because of the energy crisis in the winter half-year, the economy is slipping into an economic trough and will then shrink, the government advisers declared on Thursday in their autumn report "Energy Crisis: Inflation, Recession, Loss of Prosperity".
For this year, the experts only expect economic growth of around 1.4 percent and for 2023 a decline in German gross domestic product (GDP) of around 0.4 percent.
In 2024, the economy is likely to grow again by 1.9 percent.
More about this soon on spiegel.de.
mamk/AFP/Reuters