Warning signs for German economy
IEA research featured in Business Live
Julian Jessop quoted in The Daily Express
“We’re obviously in a lot better position and we’re still in a mess. But things are worse in Germany. Of course, this isn’t good news for the UK – Germany is Europe’s biggest single economy and still a major trading partner so we shouldn’t take any pleasure in this.
“They’ve been relying for years on cheap energy, mainly imported from Russia, to make things to sell to countries like China. So they’ve been hit simultaneously by the energy crisis and also a slowdown in global trade and weakness in the Chinese economy.
“It’s not a huge surprise that they struggled last year. What’s worrying though, that there has been no real sign of recovery this year either.”
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