Where will the German economy stand in 2022?

by time news

At the beginning of the new year, the German economy finds itself in a paradoxical situation. The current situation and the outlook do not seem to fit together very well. On the one hand, the mood in companies is bad. The Ifo business climate index fell again in December – for the sixth month in a row. The barometer ranged at 94.7 points. The number of people on short-time work also increased from 712,000 in November to 879,000 in December. It is primarily delivery bottlenecks and the Omicron wave that are weighing on the economy. As a result, economic growth has recently come to a virtual standstill. Stefan Kooths, Vice President at the Kiel Institute for the World Economy (IfW), speaks of a “rough winter half year”.

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