There is constant talk of a crisis, but at first glance the economic balance of 2025 doesn’t seem so bad. Wages, for example, have risen sharply – the most important source of income for many people. After deducting inflation, salaries in the third quarter were 2.7 percent higher than the previous year. The stock market prices also developed phenomenally. The German stock index (Dax), which reflects the price development of the 40 most important listed companies, rose by 22 percent by Christmas. In this respect, 2025 was a good year.