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Low use of shortened work hours points to mild German recession – Ifo Reuters via biedexmarkets.com

French inflation unexpectedly pulls back again in September Reuters via biedexmarkets.comBiedex Markets - stockmarket news, ideas tools, data, analysisEconomic Indicators
French inflation unexpectedly pulls back again in September Reuters via biedexmarkets.comBiedex Markets - stockmarket news, ideas tools, data, analysisEconomic Indicators

© Reuters. FILE PHOTO: Cars make their way past the Victory Column shows a reduced lighting to save energy due to Russia’s invasion of Ukraine in Berlin, Germany August 6, 2022. REUTERS/Lisi Niesner/File Photo

BERLIN (Reuters) – Low take up of a government-backed ‘Kurzarbeit’ shortened hours facility points to a “very mild” recession in Germany this winter, the Ifo economic institute said on Wednesday.

In December, the number of workers on shortened hours eased to 186,000 from a seasonally adjusted 188,000 in November, Ifo said, citing estimates it based on data from the Federal Employment Agency.

“The fact that short-time work remains at a low level seems to indicate that the expected winter recession will be very mild,” Ifo researcher Sebastian Link said in a statement.

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