Whether Allianz, Siemens or Mercedes-Benz: the flagship addresses of the German economy are currently delivering record results almost every day.
The specter of the recession is just disappearing into thin air.
When the Ukraine war broke out a good year ago and as a result Russia first supplied less and then no cheap gas at all, the concerns in this country were huge.
The German economy, naysayers valiantly warned, faced with a possible gas shortage and the feared forced shutdowns before an unprecedented crash.
German economic output could collapse by six percent, it said.
Some economists painted bleak scenarios.
Germany came through the crisis unexpectedly well
But hardly anything has remained of the headline-grabbing prophecies – on the contrary.
Instead of shrinking, the German economy grew by 1.9 percent last year.
For the current year, too, the specter of recession is just disappearing into thin air.
Yes, it's true: other large countries like France or Italy did better in 2022 than Europe's largest economy.
And because of high tax burdens and excessive bureaucracy, Germany continues to lose competitiveness internationally.
But measured against the recent headwind from high energy prices, the now radical corona lockdown in China and the associated material shortages, the German economy came through the crisis unexpectedly well.
Allianz, Siemens, Mercedes-Benz deliver record results
Anyone who still has doubts about this need only look to the current reporting season.
Whether it's Allianz, Siemens or Mercedes-Benz: the flagship addresses of the German economy deliver record results almost every day.
Even former problem children like Deutsche Bank or Commerzbank are now making substantial profits again.
The vast majority of small and medium-sized companies have also proven that they can deal with adversity very well.
This shows that the German economy and its entrepreneurs are much better than their reputation - despite all the doomsayers.