BERLIN After a 1.2 percent increase in gross domestic product this year, the DIHK expects economic output to decline by around three percent over the next year. This makes it significantly more pessimistic than the federal government. In its autumn projection, the latter predicts a 0.4% contraction of the economy.
The DIHK presented the results of an economic survey of over 24,000 companies from all sectors. As a result, 52% of companies assume their business will deteriorate over the next twelve months. Only eight percent expect improvement.
“This is the worst value we have ever measured since the survey began in 1985,” says Wansleben. The German economy is facing not only a harsh winter, but a harsh 2023 as well. In particular, producers of energy-intensive intermediate goods are reducing their production. In the chemical industry, more than one in four companies is forced to cut, in the rubber and plastic industry it is more than one in five.
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