The German institute ZEW released a statement on Tuesday (15) in which it says that a recession in Germany is becoming increasingly likely.
According to the agency, the war in Ukraine and the sanctions against Russia are significantly harming the economic prospects for the country.
“The collapse of economic expectations is accompanied by an extreme rise in inflation expectations. Experts therefore expect stagflation in the coming months. The worsening outlook affects virtually all sectors of the German economy, but especially energy-intensive sectors and the financial sector,” comments ZEW President Achim Wambach.
The statement highlights that the ZEW indicator of economic sentiment for Germany, released on Tuesday, fell “more sharply than ever before” in the March 2022 survey. 1991”, he says.
“The assessment of the economic situation in Germany has also worsened in the current survey. Specialists, therefore, assume that a slowdown in economic development will already be noticeable in March”, he adds.
Source: CNN Brasil
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