After Europe’s largest economy shrank at the end of 2021, the prospect of recession is looming for Germany, which has had a rough start to this year, with the rapid spread of COVID-19’s omicron version discouraging people from shopping and vacation and supply bottlenecks holding back manufacturers.
Germany’s output declined by 0.5 percent to 1percent in the fourth quarter, according to the official statistics office Destatis. Forecasts for the first three months of 2022 are likewise uncertain, with two consecutive quarters of decreasing output putting Germany in recession.
As many of the German enterprises have suppliers or factories in other European countries, the country’s economic activity can help its neighbours flourish.
The German economy rose 2.7 percent for the entire year, rebounding from a 4.6 percent drop in 2020, when pandemic lockdowns were at their most severe conditions.
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