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According to Ifo economist Klaus Wohlrabe, the German economy, Europe’s largest, is on track to stagnate in the fourth quarter of this year as supply chain bottlenecks show no signs of abating.
Wohlrabe stated that a drop in Ifo’s business climate index in November caused the economic institute to be concerned, and that the hospitality and tourism industries face a difficult few months ahead.
Price increases would most likely begin to slow in January, he predicted.
Story by : Norvisi Mawunyegah