Germany’s government confirms second year of recession | DW News
The German government has updated its growth forecast for the country’s economy. It is now expecting GDP to drop 0.2 percent for this year, making it the second year in a row with a shrinking economy. We’re talking to ING chief economist Carsten Brzeski about the reasons for Germany’s weakness, how the country stacks up compared to other economic superpowers – and what the future will hold.
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#Germany #Economy ä#Recession
40 Comments
Incomplete without talking about Nordstream.
Trotzdem lebt man noch ganz gut. Muss ja. 👍🏼
I see that the sanctions are working as expected.
well, soon they will start to blame the immigrants 🙂
03:08 Did someone from DW have a look at the graphs before posting this? How can the bar 5.0 be taller than 5.2, same wih 7.0 > 7.8?
High taxes, bloated government bureaucracy, high energy costs thanks to misguided Green Party insanity. Germany needs an alternative 😏.
Wrong economics politics
Maybe it’s because Biden blew up the Nordstream pipelines
Of course it is…they don't have the energy to produce anymore.Why? Greens and climate change farce. Then the USA blowing up Russian gas pipeline and Germany closing all nuke plants.
It seems like you haven't figured out the situation yet. Study some more and go travel around the world.
Skip the US and UK strangehold and start trading globally, Germany could do without all restrictions.
Maybe time to be not the only Western European country to not impose a wealth tax?
nice 🤣🤣🤣
Who could have known 😂😂😂
DW is partially guilty, no critical, neutral and pragmatic reporting on the energy and economic policies of the German government, just a state owned mouthpiece
Maybe letting teenagers decide the energy policies for the country wasnt a good idea, just maybe.
What can we expect from Germany?
Germany has been a militarily occupied country since 1945.
We've tried nothing and we're all out of ideas.
Watching from Germany's northern border, Germany behaves like an old man stuck in his ways, refusing to adopt new methods and ideas. Germany is far from alone in Europe in this regard, many of the larger European nations suffer from being stuck in old ways, continuing with systems that have long since shown themselves ineffectual and inefficient. I think the smaller European nations have generally shown themselves a lot more proactive and agile than the large core nations of the European economy.
The people I know who live in Germany or have lived there report a slow and nonsensical bureaucracy with systems stuck in the pre-digital era, lots of appearing in person in various places, waiting ages to do simple paperwork and so on. Again not at all uncommon for the large European nations, but a part of why more modernized nations around them are more agile and productive.
Over reliance on their industrial might is obviously an issue, its the entire reason they can count China as a direct rival. Most industrial workers are very inagile, they cannot be easily put to work elsewhere when heavy industry fails or is in a downturn.
Germany has neither low cost workers, large natural resource stockpiles nor a highly efficient economy or highly productive workers.
I personally think Germany needs to focus on education hard, get the entire work force more qualified and more agile, because it won't succeed trying to make workers cheaper, or trying to get resources cheaper. So workers must be more productive and agile to make up for other weaknesses, this is the lessen quickly learned by many of Germany's smaller neighbors.
If you look at the other economies compared to Germany here, its clear they all have either cheaper workers or more resources, except Japan which is an anomaly fueled by its very insular economy and its own decades long , something Germany can in no way copy.
US is next
Russia
dont listen to auslander, keep thinking the native germans are right. lets see where that gets you
No more cheap Russian Oil and Gas. 😅😅😅
EUs left idealistic policy towards immigration and energy leads to a communisms economic outcome.
I am sorry but I do have a hypothesis: if German government was closed in last 10 years, Germany would be much better now…….:(
I'll get a measely 500€ plus for putting in extra effort this year into a project. But that +500€ lifts my net income into the next tax bracket, making me pay more taxes than those 500€💀 I am basically in minus, and have put in that effort for nothing😂 For the government!
It is all self inflicted problems. German government is not thinking of Germany but about US n NATO.
You can't compete when you energy cost is double of other countries. Japanese called it "HareKiri".
Can't blame China for being competitive or any other other countries like USA taking away Germany manufacturing to US. 😂😂😂
You need more investment do you in Germany haha you don't think 1.7 trillion euros flushed down the toilet on windmills and solar panels over the last 20 years is enough money to wast don't worry I'm sure having the world's most expensive electricity will be a great help to German chemicals and steel making don't worry they're all moving to America where is free electricity practically thanks to fracking Green on dudes
Carsten, du hast super gemacht! Akzentfrei Englisch gesprochen wie ein Löwe. Und ohne Voreingenommenheit hast du deine Meinung sehr toll geäußert. Du hast kein Wort zu viel und zu wenig gesagt. Perfekte Ahnung über Politik, Wirtschaft, Literatur und Bodenständigkeit. Danke für das tolle Interview <3
Congratulations to Germany for successfully implementing the U.S. project of creating a conflict and, in doing so, weakening yourself.
Sometimes they put german language over skillset
Job requirements …no degree ….only german language
The biggest problem in Germany ? The Government.
Poor Germany! instead of perusing its own interests, has become subservient to the EVIL America and is paying the price. And never will it rise again.
3:16 Why are China's and India's 2024 bar higher than 2023, but the number is lower comparatively? Not the same for US or Japan.
Recession = Not as much profit as last year
Germany should get out EU. EU is sick and extremely bureaucratic.
Why blame China? You stopped buying Russian oil and gas. You supported the Ukraine war and NATO expansion. You started WW1, WW2 and now targeting WW3. So what is new?
Reluctant to spend on Tech infra and beuracratic mindset in organisations is the reason..
Sad to see what happened to Germany