Movim • Shrinking GDP forecast adds to German woes after coalition collapse

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Shrinking GDP forecast adds to German woes after coalition collapse

news.movim.eu / TheGuardian • 15 November 2024

European Commission figures predict German economy, usually the engine of the EU, will contract O.1% this year

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Germany’s looming general election will be fought against the backdrop of a stagnating economy, the European Commission has forecast, with GDP expected to have contracted in 2024.

The commission’s quarterly forecast suggested Germany, traditionally the engine of the bloc’s economy, will be its weakest performer in 2025, notching up growth of just 0.7% after shrinking by 0.1% this year.