Mdt road reports2/12/2023 ![]() The average number of people in work in Germany will fall by ¾ per cent in 2020 but will edge up slightly in 2021. The inflation rate will fall to ½ per cent in 2020 while 2021’s consumer prices will be 1 ½ per cent higher than this year’s. In 2020 real GDP in Germany will have declined by 6 ¼ per cent against previous year, while growth of just under 4 ½ per cent is forecast for 2021. On the other hand, public sector consumption and the construction industry are providing a positive impetus. These aggregates will not have returned to last year’s level by the end of 2021. In Germany, exports, capital expenditure on equipment and private consumption slumped sharply in the second quarter of 2020. ![]() A vaccine and the easing of geopolitical tensions would firm up and could even improve this overall positive forecast for 2021. ![]() If this recovery is not interrupted by a further lockdown, global economic activity and world trade may reach pre-crisis levels towards the end of 2021. However, the subsequent summer months have seen a pronounced economic recovery in many industrialised countries, and especially in China.
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