“Europe’s biggest economy is on the brink of a winter recession”

“London (CNN Business)Germany is teetering on the brink of recession this winter as supply bottlenecks and a wave of new coronavirus cases hobble the economy. Europe’s largest economy will shrink 0.5% in the fourth quarter of this year, compared with the third, and stagnate in the first three months of 2022, according to projections published Tuesday by the Ifo Institute for Economic Research.

An economy is in recession when it contracts for two consecutive quarters.”Ongoing supply bottlenecks and the fourth wave of the coronavirus are noticeably slowing down the German economy,” Timo Wollmershäuser, head of forecasts at Ifo, said in a statement. “The strong post-pandemic recovery that was originally expected for 2022 still hasn’t materialized.”…”

https://www.cnn.com/2021/12/14/economy/germany-recession-omicron/index.html