German Economy Ministry: Economic outlook for H2 dramatically worsened

The latest report published by the German Economy Ministry on Tuesday underscored concerns over the country’s economic outlook in the second half of this year.

Key takeaways  

Early indicators and polls point to a rising number of insolvencies in H2 but no "insolvency wave" in sight.

German economic outlook for H2 dramatically worsened, output in H2 could stagnate or contract.

German labor market is defying global uncertainties for time being, indicators have stabilized and demand for labor remains high.