Economy Germany gets boost from extra consumer spending | Financial

These include experts at asset managers and banks such as Allianz, Deutsche Bank and development bank KfW, as well as an economist from the University of Nuremberg.

So far, it was industry that steered the eurozone’s largest economy through the difficult crisis months. But now that the number of corona infections is decreasing and there are fewer and fewer corona restrictions, it seems only a matter of time before consumer spending will also make a clear contribution, it sounds like.

Its contribution to the economy is also necessary as there are increasing problems in the country’s manufacturing sector such as lack of chips and shortages of wood and other materials. The experts also warn against too much optimism about the end of the corona pandemic and its economic consequences.

Job market

According to experts, a major risk lies in the possible increase in the number of infections. For this reason, vigilance remains necessary when relaxing the measures.

Economists are also more optimistic about the development of the labor market. Unemployment may have fallen the most in June since the start of the crisis. The labor market is expected to return to pre-crisis levels by the end of the year.

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