There is no end in sight to the SLOWING down of activity in the German economy, but it will not fall into a deep recession, the Central Bank assessed in its latest monthly report.
– The German economy is still in a difficult situation – concludes the Bundesbank.
Increased economic uncertainty is holding back investment, the construction sector is plagued by higher financing costs, and personal consumption has not increased despite higher wages, experts say. There have also been signs of worsening conditions on the labor market, although the number of employees in Germany is still high, they warn.
Economic activity should stagnate in the third quarter, and it could decrease somewhat again, but recession is not currently expected, if it is defined as a significant decline in activity in a larger number of sectors and over a longer period of time, they add.
(Index)
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Source: www.novosti.rs
