Crucial Points
- “The German economic climate is facing a tough time in advance of us thanks to the Ukraine conflict, China, source chain challenges and the power disaster,” Commerzbank CEO Manfred Knof advised CNBC on Thursday.
- “Most likely the German overall economy is heading into a downward [trajectory] and possibly into a economic downturn but the excellent information is there no cause to worry,” he included.
- Fears of a economic downturn have been exacerbated amid the likelihood of a winter gas scarcity in Europe.
