German Bank of China: German economy is facing risk of recession

Xinhua News Agency, Frankfurt, September 19 (Reporter He Lili) The German Federal Bank (central bank) released a monthly report prediction on the 19th. It was mainly affected by the energy crisis. The German economy may shrink in the fourth quarter of this year and the first quarter of next year.

The report said that due to factors such as natural gas supply shortage, Germany's GDP may stop growing this quarter, and the possibility of decline in the fourth quarter and the first quarter of next year has greatly increased.

The German central bank experts believe that high inflation, energy supply and price uncertainty not only affect the energy -intensive industry, but also affect the service industry and residents' consumption. There is great uncertainty in German economic prospects.

The report shows that the inflation rate in Germany rose to 7.9%in August. Due to the expiration of the previous round of bailout plans such as refueling subsidies, it is expected that the increase in energy and service prices will promote the increase in inflation.%above.

In the second quarter of this year, the German economy increased significantly from 0.8%in the previous quarter to 0.1%.

[Editor in charge: Gu Yan]

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