German Chancellor Angela Merkel received the annual report of the Council of Economic Experts at the Bundestag in Berlin on Wednesday.
Chairman Christoph M. Schmidt said Germany stood «on the brink of a new decade» as fears grow that Europe's powerhouse could enter a technical recession — defined as two consecutive quarters of contraction.
Despite the gloomy outlook, with growth forecasts cut... Еще for 2019 and 2020, Schmidt and his team remain positive about the future.
Alongside the economists stood German Chancellor Angela Merkel, who presented the findings to her cabinet in the morning.
She emphasised that «structural change» and «transformations» in various sectors represented «investing in the future» of Germany.
The country's export-focused economy has been hit by the US-China trade war, Brexit uncertainty and a sharp decline in the car industry, which has experienced disruption due to new emissions rules and the move towards electric vehicles.