Germany is dragging Europe’s economy down — and that’s great for crypto By Cointelegraph

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Germany is dragging Europe’s economy down — and that’s great for crypto

Published Aug 04, 2023 01:00PM ET Updated Aug 05, 2023 02:40PM ET

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Germany is dragging Europe’s economy down — and that’s great for crypto

In the latest episode of Macro Markets, Cointelegraph analyst Marcel Pechman discusses the recession in Germany, Europe’s largest economy. According to a recent headline in The Wall Street Journal, “Germany is dragging down Europe’s economy.“ The article explains how the country heavily depends on manufacturing, which has been hurt as foreign governments rush to protect domestic industries.

According to Pechman, Germany’s gross domestic product (GDP) ranks fourth globally, 42% bigger than France’s GDP. Moreover, manufacturing is responsible for nearly 20% of its economy. To make things worse, the manufacturing industry in Germany employs 10% of the workforce.

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