Despite some positive growth in the third quarter, the German economy remains fragile, having barely changed since the start of the pandemic, as indicated by Carsten Brzeski of ING Bank.
With inflation rising to 2.4%, surpassing both last month’s rate and analyst forecasts, concerns mount regarding the European Central Bank's aggressive monetary policy shifts.
Unemployment figures in October remained steady at 6%, reflecting an atypical situation where a significant seasonal drop in joblessness did not materialize this year, according to Andrea Nahles.
While Germany avoided a technical recession by achieving minor growth, the underlying economic conditions suggest a persistent winter of discontent, impacting business sentiment and labor markets.
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