Scholz to become German leader of deteriorating economy since September vote

Data this week underscored the deterioration in Europe’s biggest economy, showing a slump in factory orders that was far worse than any analyst predicted as foreign demand plunged

Olaf Scholz will be sworn in as chancellor of Germany on Wednesday.

Olaf Scholz is about to become chancellor of an unhealthier German economy than the one he looked set to inherit when his party won elections in late September.

With the Social Democrat leader poised to be sworn in as Angela Merkel’s successor on Wednesday, growth prospects have soured in the weeks it took to negotiate a three-way coalition with the Greens and the Free Democrats.