The German economy grew last year despite inflation, the war in Ukraine and persistent supply problems. Price-adjusted gross domestic product (GDP) rose by 1.9%, according to initial calculations reported by the Federal Statistical Office. In calendar-adjusted terms, it found that economic growth amounted to 2.0%. “In 2022, the overall economic situation in Germany was affected by the consequences of the war in Ukraine and the extremely high energy price increases,” said Dr Ruth Brand, President of the Federal Statistical Office since 1 January 2023, at a press conference.

The German economy is under considerable pressure to adapt, writes the Bundesbank in its September Monthly Report. Challenges are arising mainly from demographic change and the transition to a low-emission energy supply. Moreover, dependency on China for the procurement of key intermediate inputs entails risk. In the midset of the current debate concerning Germany’s alleged status as the “sick man of Europe”, the Bundesbank still sees the German economy as well positioned. According to our analyses, broad-based deindustrialisation is not on the table either, says Marcus Jüppner, co-author of the report. 

Constans was the youngest son of Constantin I the Great. He was only a boy when his father accorded him the rank of Caesar (emperor-designate). With the death of Constantin I in 337, his three sons Constantin II, Constantius II and Constans adopted the title of Augustus and divided the empire amongst themselves.