Germany’s economy will likely shrink in the third quarter of this year amid signs of weakness in consumption and industry, the country’s central bank, known as the Bundesbank, predicts.
In a monthly report released this Monday, the 18th, the German BC points out that families continue to contain spending, despite the slowdown in prices, strong salary increases and the good situation in the job market. “Visibly positive impulses from private consumption are hardly expected,” he says.
Furthermore, the Bundesbank highlights that the weakness of industry, which is expected to continue, according to its economists, is also putting pressure on Germany’s performance.
Between April and June, the German Gross Domestic Product (GDP) remained stable, after showing contractions for two consecutive quarters, configuring a “technical recession”.
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