Ice-cold economic data: The corona crisis is pushing Germany deep into the recession. Economic output plummeted in the second quarter as never before. ntv infographics provide an overview of the most important indicators.
The economic catastrophe hits Germany with full force, but comes as no surprise: Nobody could assume that the strongest economy in the euro zone could withstand the multiple braking of the corona lockdown for several months without consequences and steer it completely unscathed by a global raging pandemic.
The feared overload in the German healthcare system did not materialize. But important trading partners in Europe, Asia and especially in North America are massively affected. Even if a safe antidote and a reliable vaccine against Sars-CoV-2 were already available tomorrow, it would still take months, if not years, for global economic life to return halfway to old lines.
The economic downturn in the second quarter is of historical proportions, but was already expected to be of this magnitude by experts in the spring. How strongly and at what points are the consequences of the corona crisis weighing on the German economy? ntv.de shows selected indicators of the economic situation:
Economic power: the German gross domestic product (GDP)
Economists measure the strength and well-being of an economy by gross domestic product (GDP). As a key indicator for the development of a country's economic activities, it depicts economic performance. The rate of change, here in each case in the previous quarter, measures economic growth. If GDP shrinks in two consecutive quarters, experts speak of a recession.
Labor market: the unemployment rate
The tried-and-tested crisis instruments such as short-time work and the Corona aid still protect the German labor market from the dramatic effects of the crisis. Although the number of unemployed is increasing significantly, it remains far below the catastrophic unemployment rate as in the United States. It is still unclear how long the public sector can stabilize the situation. However, the Federal Agency is now seeing a relaxation of the German job market.
Sentiment in the executive floors: The Ifo index
The Munich Ifo Institute regularly surveys executives and corporate executives from within the German economy how they assess the current situation and prospects.
Economic expectations: The ZEW index
The index of the Center for European Economic Research (ZEW), which has received a lot of attention on the markets, provides a mood picture of the economic expectations of German financial market professionals. The sub-index for assessing the situation dropped significantly in February – long before the first wave of contagion reached Germany.
. (tagsToTranslate) Economy (t) Economy (t) Corona crisis (t) Economy (t) German export