German GDP Expected to Decline 0.5% in Third Quarter: Ifo

The video discusses Germany's economic situation, highlighting a better-than-expected confidence index for August. Despite this, the business climate index remains low, indicating potential GDP decline in the third quarter. The retail sector is particularly affected by high inflation, impacting private consumption. The government is working to increase gas supply and support households affected by energy price hikes.

What are the expectations for GDP decline in the third quarter?

What uncertainties are mentioned regarding energy supply and its impact on the economy?

What measures can the German government take to support the economy according to the discussion?