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In the first quarter of 2021, Germany experienced a strong decline in GDP relative to both 2020- Q4 and 2020-Q1. The strict national containment measures taken to curb the second wave of the COVID-19 pandemic contributed to a drop in economic activity, visible from the sharp decline in consumption. To alleviate the negative effects of the pandemic, the government raised public spending by 2:6% with respect to the same period of the previous year. Import and exports increased in comparison to 2020-Q4 but did not go back to pre-crisis levels. According to the OECD economic outlook, GDP is expected to grow from the second quarter of the year and to stabilize at an annual growth rate of 4-4.5% from 2022. The unemployment rate is almost unchanged relative to the previous quarter and is about 1 percentage point higher than in 2020-Q1, suggesting a modest impact of the pandemic on the German labour market. The OECD predicts that unemployment will gradually decline, reaching its pre-crisis levels by the end of 2022. For the first time since the beginning of the pandemic, the inflation rate is above 1 percent.

August 2021

ECSA Chemicals AG
Burgauerstrasse 17
CH-9230 Flawil (Switzerland)

Via Luigi Favre 16
CH-6828 Balerna (Switzerland) 

T. +41582119100
F. +41582119101

CHE-143.818.564

ECSA Maintenance AG
Burgauerstrasse 17 
CH-9230 Flawil (Switzerland)

Via Luigi Favre 16 
CH-6828 Balerna (Switzerland)

T. +41582119300
F. +41582119301

CHE-143.818.564

ECSA Energy SA
Via Luigi Favre 16 
CH-6828 Balerna (Switzerland)

T. +41582119500
F. +41582119501

CHE-143.818.564

ECSA ITALIA Srl Società
con Unico Socio
Via Lavoratori Autobianchi 1 
I-20832 Desio (MB)
(Stabile n. 15 - Polo Tecnologico della Brianza)

T. +39 0362 625 421
F. +39 0362 304 361

P.IVA IT00222470130

Codice destinatario: C1QQYZR

Porta Ticino Easy Stop SA
Via San Giorgio 37
CH-6877 Coldrerio

T. +41582119910
F. +41582119911

CHE-477.597.888

Stalvedro Easy Stop SA
Stalvedro 4, CH-6780 Airolo

T. +41582119950

CHE-315.206.664

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