Posted 12/18/2023, 12:56:16 PM
Germany Faces Economic Contraction as Energy Crisis, Global Weakness Weigh Down Growth
- Germany's economy likely to shrink slightly in current Q4 according to country's central bank
- Business confidence declined unexpectedly in December according to Ifo Institute survey
- High energy prices, global weakness, interest rates weighing economy down
- Government facing budget crisis, forced to cut subsidies & spending
- Survey shows managers' views on current situation & 6-month outlook have darkened