Report
Patrick Artus

Is there reason to be worried about the German economy?

One often talk s of Germany’s strengths: trade surplus, high weight of industry, high employment rate, low public debt, etc. But is there reason to be worried about the German economy going forward? There are numerous causes for concern: Energy dependence on - especially Russian - coal and natural gas . Correcting this will require huge investment in renewable energies and significant destruction of capital and jobs in the absence of nuclear energy; The high weight of the industries most affected by the energy transition - automotive, intermediate goods - in the German economy ; Population ageing, which may cause lasting labour market pressures and lasting hiring problems; The deterioration in cost competitiveness since the subprime crisis.
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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