The current economic situation in Germany should not be labeled as a recession – capacity utilization is still above-average – but rather as a weakening or a slowdown. Nor is it likely that we are heading for a recession: prices for oil, industrial raw materials and food have eased, the euro’s stellar rise against the dollar looks to be over. In addition, wages have not risen so strongly, enabling central banks to keep interest rates low. Moreover, global economic growth these days stems from several regions. / Only available in German.