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.
  • poVoq@slrpnk.net
    15·
    1 year ago

    Besides badly sourced fear-mongering by a big business lobby organisation that laments a loss of largely imagined profit only, the actual reality is that the German GDP grew by 1.9% in 2022 as supported by proper statistics.

    • ☆ Yσɠƚԋσʂ ☆OP
      41·
      1 year ago

      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.