German govt sees economy shrinking again in 2024 …C0NTINUE READING HERE >>>
Stubbornly weak domestic and foreign demand, high interest rates and costly energy in the wake of Russia’s war in Ukraine have all weighed heavily on the German economy.
Photo: Axel Heimken / AFP/File
Source: AFP
The German government slashed its 2024 forecast Wednesday for Europe’s largest economy, saying it will contract for a second straight year before a recovery gets under way in 2025.
Output is expected to shrink by 0.2 percent in 2024, the economy ministry said in a statement, a sharp downgrade from the 0.3-percent expansion previously forecast.
Germany’s economy stalled in the…
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