The victory column and TV tower are pictured in front of the sunrise in Berlin, Germany.
Germany finds itself at a crossroads of global issues as it deals with an economic contraction, according to Peter Oppenheimer, chief global equity strategist and head of macro research EMEA at Goldman Sachs.
"The predicament that the economy is facing at the moment is really down to a number of factors," Oppenheimer told CNBC Tuesday, with challenges in the manufacturing sector, a disappointing China reopening boost and higher energy costs contributing to the recession in Europe's largest economy.
"It's … not a deep recession but it's obviously been more hit by obvious headwinds," Oppenheimer said.
The comments reflect the latest projection by the Bundesbank, which estimated Monday that the German economy is likely to shrink this quarter thanks to slow private consumption and industry stuttering.
Persons:
Peter Oppenheimer, Goldman Sachs, Oppenheimer
Organizations:
Goldman, CNBC
Locations:
Berlin, Germany, China