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Corona in Lower Saxony: gloomy outlook for the economy in 2021 - because and employers see black

2021-01-15T18:23:06.583Z


Since the beginning of the corona pandemic, there has been speculation about the damage to the economy. The first figures are now available for Lower Saxony. Stephan Weil also commented.


Since the beginning of the corona pandemic, there has been speculation about the damage to the economy.

The first figures are now available for Lower Saxony.

Stephan Weil also commented.

  • Corona in Lower Saxony *: In 2020 there were severe production slumps in the economy.

  • For

    Lower Saxony

    is

    only a minor one

    in

    2021

    growth

    expected.

  • Prime Minister Weil

    is considering a wealth tax.

Hanover - Since the beginning of the

corona pandemic

,

warnings have been issued about

the damage to the

economy

.

Now the expectations for the year

2021

have been lowered again by the companies in Lower Saxony.

The basis was a survey among employers.

The Prime Minister of

Lower Saxony

Stephan Weil (

SPD

) also commented on the state of the economy in the Corona year 2021.

He also fears severe damage to the economy in Lower Saxony.

Corona in Lower Saxony 2021: Business survey gives gloomy outlook for the economy

A total of 14 employers' associations carried out a business survey among companies in

Lower Saxony

.

As a result, the already cautious forecast for the

Corona year 2021

has been revised downwards significantly.

The results were presented in Hanover on Friday, January 15, 2021.

Niedersachsenmetall took the lead in the survey.

Its chief executive, Volker Schmidt, sees the optimism for the future for 2021 "melting like butter in the sun".

So far, short-time work has prevented the collapse of the labor market, but it is not a panacea.

🤷‍♂️



We expect that in the course of the crisis around 55,000 jobs will be lost in the industry in Lower Saxony, 35,000 of them in the auto supplier industry alone.

pic.twitter.com/WbAVMjj7m6

- NiedersachsenMetall (@NiedersachsenME) January 15, 2021

Economy in Lower Saxony 2021: Corona already brought a 20 percent slump in 2020

After

the

economy

in

Lower Saxony recorded

an average production slump of 20 percent

in 2020

, many companies were still relatively confident in December.

At the time, companies in Lower Saxony were still expecting an increase of 10 percent in

2021.

But the current lockdown and the still skyrocketing number of infections has let this cautious hope die.

The entrepreneurs in Lower Saxony are currently only assuming a production increase of 6 percent compared to 2020.

Corona in Lower Saxony 2021: It also looks bleak in the auto industry

Most industrial jobs in

Lower Saxony

are provided by the automotive industry.

Around every second job in industry is in the automotive sector.

In the industry, entrepreneurs were hoping for

a plus of 13 percent in

December

2020

in 2021. According to the survey, the hoped-for growth increase has shrunk to a measly 8 percent.

Service providers and retailers fear an even greater decline in the forecast for 2021, according to the employers' associations.

Here, the forecast fell from 20 percent to 8 percent due to the corona pandemic.

The sharp drop in growth is not without consequences.

The industry in Lower Saxony expects the loss of 55,000 jobs in 2020 and 2021. Of these, 35,000 are expected at the automotive supplier companies, according to Niedersachsenmetall.

A “collapse” on the labor market has so far been prevented by the short-time work allowance, said Schmidt.

Corona does not give up.

So we stick together all the more firmly.


The infection numbers in #Niedersachsen are still high.

It is therefore important to reduce our personal contacts to our own domestic family.

It's not easy, but we can do it.

pic.twitter.com/CJmNuCdokx

- Lower Saxony state government (@NdsLandesReg) January 13, 2021

Corona in Lower Saxony: Prime Minister comments on the 2021 financial year

Not only the companies in

Lower Saxony

paint a gloomy picture for the

economy

in the

Corona year 2021.

Prime Minister Stephan Weil (SPD) is also not very optimistic.

 â€śThe 2021 financial year will be very difficult.

We will have to prepare for a wave of bankruptcies, although the state has made every effort not to let the economy down "

- Stephan Weil across from the RND

The social democrat expects the corona pandemic to have severe consequences for the economy in Lower Saxony.

A crisis on the scale of the corona pandemic cannot be completely absorbed by the general public, said Weil.

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Corona in Lower Saxony 2021: The economy must be revived quickly

The Prime Minister pleads for the revitalized branches of the

economy

as quickly as possible

.

In this way, the costs of the

corona crisis could be

paid off

through growth

.

He referred to the "rapid" recovery of the economy after the financial crisis in

2009

.

But concrete measures were also discussed.

According to Weil, another approach could also be to involve those who have profited from the crisis more closely.

For example, online trading could be used more.

The

Prime Minister

also mentioned a

wealth tax

as a possibility.

He prophesied that this would also play

a role in the

federal election campaign

.

"You will certainly have to ask whether the stronger shoulders don't have to carry more than the weaker ones, for example through a wealth tax"

Stephan Weil

Corona and the economy: the gross domestic product

The economists of the Landesbank von Norddeutschland, on the other hand, have a more positive view of the economy in

2021

.

According to the experts' forecasts,

German economic output in

Germany

will increase by 3.5 percent.

However, it is assumed that the corona situation will gradually improve.

Should that be the case, the gross domestic product (GDP) in the Federal Republic of Germany would increase by 4.1 percent compared to 2020.

In the first Corona year

2020

, according to estimates by the Federal Statistical Office, GDP slumped by 5 percent compared to the previous year.

Only after the financial crisis in 2009 was there a stronger decline in GDP.

At that time it was 5.7 percent.

(Lucas Maier with dpa)

* hna.de is part of the nationwide Ippen-Digital editorial network.

Source: merkur

All news articles on 2021-01-15

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