German Government Expects New Recession In 2024

  • Berlin, Germany
  • 10 October 2024
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The German government has lowered its growth forecast for this year and expects an economic recession and recovery in 2025.

Berlin is betting on a 0.2 percent decline in GDP this year, up from 0.3 percent previously. The GDP of Europe's largest economy contracted by 0.3 percent in 2023.

After a two-year decline, GDP is expected to grow again next year by 1.1 percent and 1.6 percent in 2026, according to the new forecast.

After a difficult first part of the year, the German economy, unable to emerge from its industrial model crisis, slowed last summer.

 

Source (Al-Arabiya.net Website, Edited)

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