BERLIN - Orders for German industrial goods fell 25.8% in April, suffering their biggest drop since records began in 1991, but the low point has probably passed for the backbone of Europe’s largest economy, the Economy Ministry said on Friday.
“In view of the gradual easing , however, the low point of the industrial recession should now have passed,” the ministry said in a statement. The economy will contract by 7.1% in 2020 based on calendar- adjusted figures and 6.8% according to unadjusted data, the Bundesbank said in its biannual projections.
Chancellor Angela Merkel’s government has tried to mitigate the impact of the crisis with a range of steps, including a 130 billion euro stimulus package agreed on Wednesday to speed up recovery. Economy Minister Peter Altmaier told Focus Online magazine that Germany should return to a balanced budget in the next legislative period.
Because they have a smart leadership.