Hope for recovery of the economy

Hope for recovery of the economy

After the Corona slump in 2020, experts believe in a recovery of the German economy in the coming year. The upswing in China could help.

Hope for a golden autumn

Economists are unanimous on one point in particular: the longed-for recovery is not likely to really take hold until the second half of the year. Bundesbank chief Jens Weidmann is counting on private consumption as a hopeful factor for 2021.

Another great factor of hope is Asia, especially China - the country where the global pandemic began.

Industry as the driving force?

The export-oriented German industry is likely to benefit most from this. That is a big difference from the first lockdown. Key German industries such as automobiles, chemicals and mechanical engineering remain on course for growth. "Germany should benefit from an industrial boom cycle"

Robert Rethfeld of Wellenreiter-Invest sees Germany as a beneficiary of the Chinese economic upswing.

Industry is particularly important for value creation in Germany. According to the World Bank, its share of GDP was 26.8 per cent in 2019.

Scenarios for 2022 and 2023

Hope is raised by looking beyond 2021. For 2022, all major economic research institutes expect a significant acceleration of growth. But even this forecast is fraught with huge doubts.