After six months of recovery, Germany faces another sharp decline in industrial production, analysts say S&P Global.
The commercial activity index in Germany decreased to 42.3 points in February. In January, the indicator was at its highest level in the last 11 months with 45.5 points. The indicator below 50 points indicates that the economic situation in the country is worsening.
Analysts announced that the pace of industrial production in Germany decreased due to weak demand for goods.
German Economy stoped due to crises. In 2023, the country’s GDP decreased by 0.3%. A year ago, this figure showed an increase of 1.9%.
German opposition in early February suggested Limit social payments to get the country out of crisis.
Wolfgang Schmidt, formerly private secretary of German Chancellor Olaf Scholz statedHe said there was no recession in the country.
Previous analysts calculatedIt is predicted that Germany may lose its status as the world’s third largest economy by 2026.