Germany headed for deeper recession, IMF says – DW – 10/10/2023
www.dw.com
Economic forecasters say Germany will suffer a worse slide in economic output than had been expected. A recovery is predicted, but that is also likely to be weaker than previously estimated.
  • ComradeSharkfucker
    3•7 months ago

    I could’ve sworn ive seen Germany elect far right politicians as it falls into a recession before but I must be mistaken. Surely this wouldn’t happen for the third time

  • AutoTL;DRBEnglish
    1•7 months ago

    This is the best summary I could come up with:

    The International Monetary Fund (IMF) on Tuesday said Germany was set to suffer from a deeper recession than previously predicted.

    The IMF said that Germany’s economy, rocked by high inflation and a slump in manufacturing, is expected to shrink by 0.5% this year.

    In its revised opinion, the IMF said Germany was facing numerous obstacles, including “weakness in interest-rate-sensitive sectors and slower trading-partner demand.”

    The IMF said Germany was on track to make a recovery in 2024 and grow by 0.9%, a gloomier forecast than the 1.3% figure that had been anticipated.

    Fellow G7 member Italy, which is also grappling with inflation stubbornly above the eurozone average, saw its growth prediction slashed by 0.4% points to 0.7%.

    A “catch-up in industrial production and external demand” there led the IMF to predict a 1% expansion for 2023, up from the previous 0.8% estimate.

    The original article contains 308 words, the summary contains 140 words. Saved 55%. I’m a bot and I’m open source!