# Low use of shortened work hours points to mild German recession – Ifo
Published: 2023-01-11
Category: News
Category URL: https://tradingherald.com/category/news/
Meta Title: Germany's Winter Recession Forecasted as Very Mild by
Meta Description: Ifo economic institute predicts a 'very mild' recession in Germany this winter as low take up of 'Kurzarbeit' facility points to economic
URL: https://tradingherald.com/low-use-of-shortened-work-hours-points-to-mild-german-recession-ifo/

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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.

(Writing by Paul Carrel; Editing by Maria Sheahan)


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