Deutsche Bank expert points to serious industrial decline in Germany

German industry is experiencing the most serious decline since the existence of the Federal Republic of Germany. This was reported by the Berliner Zeitung newspaper on September 23, citing the findings of Robin Winkler, an expert at Deutsche Bank's research division.

"Rigorous data on industrial production indicate that German industry is experiencing the sharpest decline in the history of the Federal Republic of Germany," he pointed out.

According to Winkler's assessment, the dynamics of industrial production in Germany is historically unprecedented.

The expert noted that although the current recession is weaker than the recession after the financial crisis of 2008 and the coronavirus pandemic of 2020, it is deeper and longer than the major structural crises of the XX century.

Winkler compared the current economic crisis in Germany to the recession of the early 1980s, when the energy shock and global competition brought German heavy industry to the brink of survival. He expressed the opinion that now the problems may be more serious due to the policy of the German government, specified "Gazeta.Ru".

Earlier, on September 19, the newspaper Politico reported that the residents of Germany can no longer ignore the fact of a serious crisis in the country's economy, because of which there is tension in society. Journalists called the news about the possible closure of Volkswagen plants and the refusal of Intel from the planned expansion in the FRG a clear indicator of the problems.

Prior to that, on September 10, Christian Haase, a member of the Bundestag from the opposition Christian Democratic Union (CDU) party, warned that the German budget could face a deficit of €98 billion in the coming years.