Pessimistic mood in the economy
Author: Marcus Schilling
Germans expect deterioration
The mood in the German economy is pessimistic. This is the result of the current trend barometer from the television stations RTL and n-tv. Accordingly, 50 percent of the respondents expect the economic situation to deteriorate. Nearly 14 percent expect an improvement and 34 percent do not expect any change.
The negative mood of the population is largely the same as that of economic experts. This is the result of the economists’ barometer of “Euro am Sonntag” and n-tv. According to the figures, a recession is forecasted for the next twelve months. “The situation is unfortunately becoming increasingly gloomy,” commented Ulrich van Suntum, professor of economics at the University of Münster.
Expectations towards the economy vary widely from region to region. The most optimistic respondents are the Thuringians: 29 percent expect an improvement and 24 percent a deterioration in their state. The state of Saxony is also optimistic.
Pessimism predominates in the other parts of Germany. Saarland has the worst expectations: 64 percent have prepared themselves for a deterioration of the economy, only 11 percent for an improvement. In North Rhine-Westphalia (54 percent negative, 10 percent positive) and Rhineland-Palatinate (52 percent negative, 9 percent positive) the mood is also predominantly negative.
The barometer shows that the assessment of the development of living conditions varies greatly from region to region. Furthermore, the mood with regard to the economy is not a mere reflex for the assessment of the nationwide development, but depends on the individual framework conditions of the federal states.