Economists are slightly more optimistic than the federal government in their annual report on Wednesday. For 2022, economists expect a growth of 1.7 percent.
The Council does not expect any noticeable relief in consumer prices for the time being: The inflation rate is estimated to be 8 percent this year and 7.4 percent next year.
The German Council of Economic Experts, which advises the federal government, wrote that the energy crisis and inflation are placing a heavy burden on households and businesses. Since the middle of the year, the sharp rise in energy and food prices has resulted in ever-increasing loss of purchasing power and reduced private consumption.
At the same time, the energy crisis negatively affects production, especially in energy-intensive industries. The global slowdown weakens export demand.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
