Estimates of the German Central Bank showed that the period of weakness that the German economy is going through has not yet ended. It is expected that Germany's GDP will decline slightly again in the fourth quarter of 2023, as this will be the second consecutive decline in economic output, and thus the largest European economy will record what is known as a "technical recession."
The bank expected that the gross domestic product for the entire current year would record a contraction of 0.1 percent, while the bank had reduced its expectations for economic growth next year from 1.2 percent in its forecast last June to 0.4 percent.
The bank expected that the German economy would return to somewhat stronger growth in the medium term, at 1.2 percent in 2025 and 1.3 percent in 2026.
Source (Al-Raya Qatari newspaper, adapted)
