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Money Economists: German economy must be warm at times

11:15  23 october  2021
11:15  23 october  2021 Source:   gq-magazin.de

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The approaching winter allows the economy in Germany to make the economy of leading German financial institutions.

Die deutsche Wirtschaft steht wegen der hohen Energiepreise und der weltweiten Lieferengpässe unter Druck. © Stefan Puchner / DPA The German economy is under pressure because of high energy prices and global delivery bottlenecks.

"The German economy will have to be warm in the coming months," said Katharina Utermöhl from the Allianz Group in a poll of the DPA. "We expect a continuation of autumnal cooling," she said. However, there will be no wintry crash, as last year. A weakened demand from China tightened the problem.

Also Marc Schilenberg von Deutsche Bank Research looks, above all because of high energy prices and global delivery bottlenecks, such as microchips, no quick recovery. "Before spring 2022, there is no significant relaxation to expect."

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and the Chief Volkswirt in the State Bankengruppe KfW, Fritzi Köhler-Geib supplements: "The further recovery is tougher than expected in the spring.» So far, it is difficult to foreseeable how long the material bottlenecks and production disturbances imposed on the world markets. The resulting delivery difficulties and strong price increases, for example, for important raw materials delayed out of the crisis.


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Lower Growth

«The reduction of the delivery bottlenecks will not be accomplished because of the partially highly complex technical requirements not so fast," also German-Bank expert Marc Silhberg said. He only expects growth of 2.5 percent this year. The recovery of the economy will relocate into the next year. Then there should be a growth of 4.5 percent after his prognosis. "Doctable has not been lifted," said Köhler Geib. «Due to the catching demand after the crisis-related production losses, the order books in the industry are filled in bulging.»

In the labor market, the economists see a decrease recovery in the summer months compared to the rapid development. "The recovery of the German labor market is likely to continue on the winter months, but clearly lose ride," said Katharina Utermöhl. Nevertheless, until the end of 2022, the pre-crisis level is likely to be resumed at unemployment. Utermöhl and Schattenberg expire from a reduction in the number of unemployed in October by around 60,000. The Nuremberg Federal Employment Agency announces its monthly statistics for October on Thursday (28 October).

German economy in summer Continue to recovery course .
The German economy has remained on a growth course despite delivery bottlenecks in the third quarter. Especially due to consumer consumer, gross domestic product (GDP) rose by 1.8 percent compared to the previous quarter, as the Federal Statistical Office in Wiesbaden announces. © Carsten KOALL / DPA Especially from the consumer's consumption benefit, the increased gross domestic product (GDP) benefited. In the second quarter of the year, Europe's largest economy has even grown by 1.9 percent a

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