World export champion or economic engine – these are the terms the German economy was once associated with. There isn’t much left of it; in fact, the hoped-for upswing is coming to a halt. This was evident even before the war in the Middle East began, as mechanical engineering had already suffered a noticeable setback in February. The industry, which is considered the backbone of the German economy, received twelve percent fewer orders than in the same month last year, its association VDMA announced on Wednesday. “Geopolitical conflicts have been weighing on our business for a long time and now the Iran war has been added, which is causing further uncertainty,” explains VDMA chief economist Johannes Gernandt.
