Recession-hit Germany is facing a flurry of global headwinds, Goldman Sachs says
CNBC 2023-09-19 11:20:38 • 3 mins
Key Points
- "The predicament that the economy is facing at the moment is really down to a number of factors," Peter Oppenheimer, chief global equity strategist and head of macro research EMEA at Goldman Sachs, told CNBC Tuesday.
- The banks lists challenges in the manufacturing sector, a disappointing China reopening boost and higher energy costs as contributing to the ongoing recession in Europe's largest economy.
The victory column and TV tower are pictured in front of the sunrise in Berlin, Germany.
Florian Gaertner | Photothek | Getty Images
Germany finds itself at a crossroads of global issues as it deals with an economic contraction, according to Peter Oppenheimer, chief global equity strategist and head of macro research EMEA at Goldman Sachs.
"The predicament that the economy is facing at the moment is really down to a number of factors," Oppenheimer told CNBC Tuesday, with challenges in the manufacturing sector, a disappointing China reopening boost and higher energy costs contributing to the recession in Europe's largest economy.
