The German economy predicted a difficult coming year

Most industrial associations expect a decline in production due to high electricity costs and a lack of skilled labor.

The German economy predicted a difficult coming year
It is reported by Das Erste.

“The construction industry, which was booming a year ago, is now suffering from exploding costs and higher interest rates on loans,” the report says.

But in the gastronomic sector, things are better, including in the hotel business, which are recovering from the coronavirus crisis, the reporter said.

“In general, we lack qualified specialists everywhere. Here we also have to talk about the shortage of labor in the most general terms. Attracting a new workforce is now extremely expensive, and therefore employers hold on to employees,” said Michael Hüter, director of the Institute for German Economics.