German exports will remain stagnant at best this year amid the war in Ukraine, lockdowns in China and persistent supply chain problems, the German Chamber of Commerce and Industry (DIHK) said, limiting previous forecasts for a 6% increase. .
“There will not be much more for the German export industry than we expect, from scratch,” said DIHK’s head of international trade.
He warned that the momentum of exports could slip into negative territory, even on an adjusted basis, if the situation does not improve soon.
About 37% of companies surveyed by DIHK in March and April expect the economic environment in their regions to deteriorate, more than double the number in the autumn.
“The last time we saw a similar decline in climate was in the spring of 2020, when the coronavirus broke out. We need to prepare for clearly worse activities worldwide,” said DIHK’s head of international trade.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
