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Germany's services sector, vital for its economy, grows despite regulatory challenges and a labor shortage.
Despite facing regulatory hurdles, Germany's services sector, which comprises 70% of its GDP, shows growth potential, expanding 1.6% in the first half of 2022.
However, bureaucracy and overregulation hinder small businesses and contribute to a labor shortage, with half of the sector's companies struggling to find workers.
Policymakers have mainly focused on the auto industry, neglecting the services sector's needs.
5 months ago
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