Germany's economy is not very optimistic this year, and growth expectations have been significantly lowered. Germany is the only major developed economy whose economy will not grow in 2023.
Experts believe that this is not only related to the characteristics of Germany's own economic structure, but also inseparable from the current global political and economic environment. Germany's manufacturing industries are the backbone of its economy. This means that compared with other major European economies with strong service industries, the German economy is more susceptible to the impact of rising energy prices.