Germany’s DIHK Chambers of Industry and Commerce said that the country’s economy would growth 0.7% in 2020, slightly higher than 0.6% in 2019. However, it also pointed out that around 0.5% of growth is due to “statistical effects” such as the overhang from the previous year and four additional working days this year. Hence, CEO Martin Wansleben said “that is why we currently see little real growth.”
He added: “It is worrying: A whole host of data, particularly from industry, suggest that structural challenges, such as e-mobility, digitization, the energy turnaround and further the shortage of skilled workers, are adding to the current economic downturn. Some regions are particularly affected.”
