German groups sound 'SOS' over economy - Manila Standard

BERLINE -- Germany's major industry associations warned the country is in deep economic doldrums on Wednesday, and businesses were preparing for nationwide demonstrations to demand changes. The demonstrations under the call "SOS, Distress Signal Day" are scheduled to take place few weeks to the February 23 elections and not long after Germany, the biggest economy in Europe shrank for the second consecutive year. "Companies in Germany are facing increasingly unfavourable conditions for competition," the heads of BDA, BDI, DIHK and ZDH said. It has been years of industries’ warnings about Germany’s increasing structural weaknesses and "'it is time to act,” they said, claiming that there are more challenges ahead with the election of Donald Trump as the president of the United States. The German economy has been hit by high energy prices, a decline in manufacturing and weak demand for its export products to China and other countries, thus contracting in 2024 for the second consecutive year. The associations said they had come up with several measures to enhance business but 'not much has happened' during Olaf Scholz, who forms a minority government since his three party coalition collapsed in November. AFP.

Shandor Brenner is an American journalist recognized for his sharp and insightful reporting on social and political issues. His work is known for its depth, integrity, and the ability to highlight critical societal concerns.