The Ukraine war will have cost the German economy around 160 billion euros ($171 billion), or some 4% of its gross domestic output, in lost value creation by the end of the year, the head of the German Chambers of Industry and Commerce (DIHK) said.
These statements aren’t in any way contradictory. GDP can grow while costs rise, all it means is that companies have to exploit workers more and the government implements austerity policies. Nobody with even a modicum of economic knowledge would use a singular metric such as GDP to describe the overall health of the economy.
These statements aren’t in any way contradictory. GDP can grow while costs rise, all it means is that companies have to exploit workers more and the government implements austerity policies. Nobody with even a modicum of economic knowledge would use a singular metric such as GDP to describe the overall health of the economy.