At the end of last year, the Government still predicted a contraction in GDP of 0.4% in a context of rising energy prices for the industrial sector and falling purchasing power.
Many economic institutes and experts had also forecast a drop in wealth in 2023but in recent weeks they revised their forecasts upwards.
Germany “resisted”affirmed the Ministry of Economy, highlighting the “resilience” of the activity in the face of the energy crisis. The Ministry also highlighted in particular the consumer efforts to save energy after Russia phased out its gas supplies last year.
Last week, the head of the government, Olaf Schölz It showed itself “convinced” that the country would not go into recession. “I think no one expected that we would easily survive a situation where there would be a complete cessation of Russian gas supplies to Germany,” Scholz had said at the Davos Forum. “We have shown that we are capable of reacting to very difficult situations,” added the German chancellor.
The prices of the Energy they have dipped in recent months, thanks to a mild winter in Europe and Germany’s efforts to increase its supply of liquefied natural gas.
Germany registered an average inflation of 7.9% in 2022, its maximum in the last 70 years. However, in December he posted 8.6% year-on-year, down 0.8 from the previous month and almost two points below October’s record, when he posted a peak of 10.4%.
Source: Ambito
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