German economy facing challenges

Our latest 'CIO Special – German economy facing challenges' highlights the structural issues facing the German economy in the aftermath of the Covid and energy crises. We refer to the concerns in the energy and labour markets, recent fiscal policy support programmes and investment implications.

Our key takeways are as follows:

Solid public finances enabled the German government to react forcefully to the economic fallout from both the Covid and energy crises.
Slow progress in energy transition and the lack of skilled labour are two major structural concerns facing the German economy.
Fiscal policy programmes are necessary but further action is required to restructure the German economy. A positive investment climate with transparent regulation and minimal bureaucracy should therefore be fostered.

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Our CIO Special is now available to download. Please refer to the Important Information at the end of the report for disclosures and risk warnings.

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