Yes. The worst is yet to come.

- Germany is heavily reliant on industry (like Autos)

- Cheap energy has ended due to war in Ukraine

- The available replacements are going to be even more expensive (and they are still closing more nuclear plants)

- The production costs will increase reducing their competitiveness even further

- The competitives was bad even before this (VW vs Tesla anyone?)

- Once the huge layoffs and closures will begin, the entire economy will enter recession.

Industry-focuses businesses are now low-margin and high-competition (competition mostly coming from Asia). The same is happening here what happened during the shift of Agriculture economy into Industrial economy.

And the shift to services (tech/software specifically) was pretty much non-existent. Also, it's unlikely to become any better due to alienation of investors (who wants to invest in a country where everybody is taxed and red-taped into oblivion?).

So... who nows. Germany is probably going to pull a "Greece" on us :).