Even experts did not expect this: Germany’s economy literally collapsed in September. Export-dependent industries in particular suffered a steep decline of 1.7 percent. Energy production also fell by 1.7 percent. Construction output remained unchanged from the previous month. Rising interest costs are troubling investors.
The German economy is facing major challenges. After a minimal contraction of 0.1 per cent in the summer quarter, there is now a risk of another recession. Many experts fear another decline in the current fourth quarter – bleak prospects for the former world export champion.