Column: Here is the Boomer speaks
Germany is more robust than many experts have believed
Bad news, and Fears there are in Abundance. The positive Figures for the German economy to fall into the Background. There is no reason for complacency, says our columnist Frank Schmiechenbut a good cause for a little optimism.
By Frank Schmiechen
I’ve got a question. For months, we were bothered with poor prospects. Our economy go up against the wall. It was called. Only in the autumn, the devastating effects of the lock downs would be visible. It was called. The German economy will not recover after this blow back. It was called. Why does hardly anyone the positive news to the attention of?
Here is a small selection of positive Trends in the economy:
- The German economy experienced the fourth-order increase in a row.
- The order level was in August, only slightly below Corona level.
- In the German car industry, the pre-crisis level is exceeded.
- BMW increased sales in the third quarter to 9 percent.
- The share prices are above the pre-Corona level.
- The digitization has taken a big step forward.
- Leading economic research institutes have adjusted their forecasts upwards.
After the collapse of the German economic performance to 9.7 percent in the second quarter of 2020, experts expect for the third quarter, an increase of more than 9 percent. The FAZ Commerzbank chief economist Jörg Krämer quoted: “in terms of contract numbers, the German industry has made a large part of the break-in betting.” Krämer continued: “we Probably are where we would have been without Corona.”
Caution is appropriate. We have learned
Clearly, the Outlook is still volatile, because no one knows how the pandemic will develop. But for a Moment should take a look at the Numbers on success. Very important: The German industry has learned from the experience of the spring, and arrangements have to be made if the situation is again more dramatic.
This is exactly what happened in the health system. It is much better prepared than in the spring. Hospitals may turn as quick as a flash in the crisis mode. It is three days, in order to make more beds available. Sufficient protective clothing and masks, there are now.
It is just a great unrest spreads in Germany, because more people will be tested positive. Travel and entertainment restrictions to be ramped up. Caution is appropriate. This is also one of the things that we have learned.
A bit cramped in the autumn and there will be more bankruptcies and unemployed in Germany. All of this also goes to me. But I’m not for more of the horror scenarios of the experts discourage you, because our country is more robust than many had expected.