Tech & Science Study: Corona cost 350 billion euros of economic output

17:56  23 january  2022
17:56  23 january  2022 Source:   dw.com

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Lockdown measures, supply chain problems - and with cautious customers: all this and much more have brought the immense economic slowdown according to the institute of the German economy.

Fabrikation bei BMW: Fehlende Bauteile setzten vor allem der Automobilindustrie zu © Sven Hoppe / DPA / Picture Alliance Fabrication at BMW: Missing components, above all, set the automotive industry to

The consequences of the Corona pandemic have proven the German economy in the past two years of a study, according to 350 billion euros in value creation. The sum is largely due to the lower consumption, the Institute of German Economics (IW) expected the anniversary of the outbreak of the pandemic in Germany. This would also result in reduced investments of companies. In the first three months of this year, further failures of 50 billion euros may occur, the institute continued to declare. "The recovery will take years," expect economists.

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Dieses Bild sieht man in Deutschland seit der Corona-Pandemie nicht mehr so häufig wie in früheren Jahren © Daniel Bockwoldt / DPA / Picture Alliance This picture has been seen in Germany since the Corona Pandemic no longer as often as in previous years

At the beginning of the pandemic, the Lockdown measures led to problems with production processes and disturbed deliveries in the in-house and Abroad, explained the IW. In addition, there were costs due to limited consumer possibilities and careful customers. The shops with abroad went sharply. In the second quarter of 2020, real gross domestic product (GDP) dropped eleven percent in the previous year.

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In the further course of the pandemic, in the meantime reduced infection numbers caused a hope for a permanent recovery - but this was clouded by re-infection waves. In the second corona year, according to study, problems with supply chains were crucial: missing components made especially the automotive industry. The state spending in the pandemic and exports had at least partially collected the German economy in the second year, the IW explained. But it is expected that there will be dropped in the coming months.

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with omikron variant up again?

"The new omikron variant also gives reason for hope," said IW-Econom Michael Grandling: "Should we enter the endemic phase this year, it should go uphill again." Over the next few years, it would like to grow strong growth to wake the losses again.

For the study, researchers faced the actual economic development in the past two years a "counteractical" economic trip. According to IW, an economic environment is assumed, in which the Corona pandemic simply does not exist. The fourth quarter 2021 was estimated at the basis of the annual value for the full year 2021. "Such calculation offers at least a rough orientation for the economic losses raised so far as a result of the pandemic."


10 Important facts on the market trading on Thursday .
These 10 facts are likely to ensure movement in the markets today. © Provided by finanzen.net Daniel Roland / AFP / Getty Images Keep an eye on the complete current trading day here. 1. DAX according to FED decision deep red awaits The interest rate after yesterday's session of the US Federal Reserve is likely to throw the German guide index on Thursday again significantly back towards 15,000 points. DAX is predicted by a minus of 2.1 percent at 15,137 points. 2.

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