German economy will grow by 1.9 percent in 2022


Shelf with cleaning products in a supermarket

The economy in Germany has grown again.

(Photo: mauritius images / Manfred Bail / imageBROKER)

Berlin Despite inflation, the Ukraine war and ongoing supply problems, the German economy grew last year. The gross domestic product rose by 1.9 percent, as announced by the Federal Statistical Office on Friday. Because of the energy crisis, however, the economy was unable to build on 2021, when the economy grew by 2.6 percent.

Most experts expect a slight recession for the current year. The severe economic slump expected at times is unlikely to occur. “There is now a consensus that there will be no deep recession like after the financial crisis or Corona in the euro area and in Germany,” said Commerzbank chief economist Jörg Krämer.

“After all, a gas shortage has become unlikely.” The Kiel Institute for the World Economy (IfW) expects growth of 0.3 percent this year, which should accelerate to 1.3 percent in 2024.



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