German government does not expect a serious recession in the economy

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The report stated that the German economy, which has the largest economy in Europe, is at a weak stage and that altındaki the global industrial economy under pressure affects the export-oriented German economy. ”

The report said that orders continued to fall in the manufacturing sector, and that German exports were advancing horizontally, while public and private consumer spending significantly supported economic growth.

In the labor market, the report said that employment creation has slowed down due to the economic downturn and the further decline in unemployment was reported to have stopped in recent months.

“The German economy is expanding by 0.4 percent in the first quarter of this year, while it contracted by 0.1 percent in the second quarter,” said the ministry’s report. was evaluated.

The report noted that the German economy was affected by the declining global trade and global industrial activities, but the domestic conjuncture stood firm against these developments.

Brexit uncertainty, trade relations between the US and China, the slowdown in the automobile industry and soft global demand continue to affect the German economy, which is based on exports. The country’s economy grew 1.4 percent last year, while the German government and the European Union Commission expects growth to remain at 0.5 percent this year. In Germany, the economy grew by 0.4 percent in the first quarter of this year and contracted by 0.1 percent in the second quarter.

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