BERLIN / LONDON (IT BOLTWISE) – The German economy is at a crucial point as industry is losing substance. Despite positive OECD forecasts, tariffs and uncertainties are weighing on economic development. The Federation of German Industries warns of a historic low and is calling for political reforms to ensure competitiveness.
Today’s daily deals at Amazon! ˗ˋˏ$ˎˊ˗
The German economy is in a critical phase in which industry is increasingly losing substance. The Federation of German Industries (BDI) has urgently warned of a historic low. Peter Leibinger, President of the BDI, criticizes the federal government’s lack of determination and describes the situation as dramatic. Despite the positive growth forecasts from the OECD, which predict growth of 1 percent for the coming year, the German economy is lagging behind global dynamics.
Within Germany, tariffs and trade policy uncertainties pose significant challenges. These factors burden foreign trade activities and make international trade more difficult. Still, there are glimmers of hope: rising private investment and increased public spending in areas such as defense and infrastructure could give the economy a much-needed boost. The OECD expects moderate growth worldwide, with trade policy barriers continuing to dampen international trade.
OECD Secretary General Mathias Cormann emphasizes the need to quickly resolve existing trade conflicts and maintain budget discipline in the face of rising national debt. The German chemical industry, mechanical engineering and the steel industry in particular are under enormous pressure. However, there are signs of an upswing in the auto industry, although jobs here are also at risk. The challenges are diverse and decisive political measures are required to ensure Germany’s competitiveness.
Bertram Kawlath from the Association of German Mechanical and Plant Engineering (VDMA) calls for quick and strategic measures to stop the economic downward trend. Germany must set clear priorities and initiate a strategic realignment. The future of the German economy depends on the ability to adapt to changing global conditions and implement the necessary reforms. This is the only way the economic upheaval can be successfully mastered.
Order an Amazon credit card without an annual fee with a credit limit of 2,000 euros!
Bestseller No. 1 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 2 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 3 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 4 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 5 ᵃ⤻ᶻ “KI Gadgets”
Please send any additions and information to the editorial team by email to de-info[at]it-boltwise.de. Since we cannot rule out AI hallucinations, which rarely occur with AI-generated news and content, we ask you to contact us via email and inform us in the event of false statements or misinformation. Please don’t forget to include the article headline in the email: “Germany facing economic upheaval: Industry in transition”.
The post Germany facing economic upheaval: Industry in transition appeared first on Veritas News.
