BY: ATUL SINGH
Is the German Economy Now Destined to Decline?
September brought grim news for Germany: Stubbornly high inflation at +6.1% rekindles memories of the 1920s.
Inflation at 5.5%, driven by wage pressures, extends beyond the Russia-Ukraine War, affecting all industries.
Construction orders plummet, an alarming indicator, surging to 44.2% in August from 13.8% in 2022.
Germany faces housing crisis: Record cancellations, rising costs, insolvencies, and 700,000-home shortage.
German industry slumps: July 2023 production down 0.8%, carmaking hit by energy costs, stagnation persists.
Germany's economy falters: Contraction, sinking confidence, and bleak 2023 outlook as worst major performer.
ifo Business Climate Index down four months in a row, lowest since 2020, rising pessimism ahead.
Hamburg Commercial Bank's PMI: German factory output worst since 2009, alarming for a quarter-GDP sector.
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