BERLIN - German business morale fell to its lowest level since November 2014 in June, a survey showed on Monday, adding weight to expectations that Europe’s largest economy contracted in the second quarter.
After nine successive years of growth, the German economy is struggling as trade disputes and a cooling world economy hurt its export-dependent manufacturers and as Britain’s delayed exit from the European Union creates uncertainties. An index measuring managers’ assessment of their current situation rose slightly while another gauging expectations fell to its lowest level since February.
The services sector, buoyed by a solid domestic economy, has been providing impetus as industry shrinks, but some economists fear the recession in the manufacturing sector could spread. The Finance Ministry said on Monday the government would stick to its no-new-debt policy until 2023 but planned to increase public spending by 1% next year.
don't be sad, make more EVs, that'll cheer you up 👍
And if the eu behave like arseholes on trade after brexit, the German economy will slide deeper into the shit.
Reducing car production means a definite economic downturn!
Hahahahaha...🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧
Well, if they want their economy to improve, maybe they should try CAPITALISM
oLW
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Source: Reuters - 🏆 2. / 97 Read more »