Germany's economy was the weakest among its large eurozone peers last year with a 0.3-percent contraction.
BERLIN ― German y's leading economic institutes have downgraded their forecast for 2024 and now see Europe's largest economy shrinking by 0.1 percent, people familiar with the figures from the autumn joint economic forecast told Reuters on Tuesday. German y's economy was the weakest among its large eurozone peers last year with a 0.3-percent contraction.
Data earlier this week showed German business activity contracted in September at the sharpest pace in seven months, putting the economy on track to notch up a second consecutive quarter of falling output.The economic institutes have also slashed their forecasts for the coming years, according to the sources. The growth forecast for 2025 has been cut to 0.8 percent from 1.4 percent, and for 2026, the institutes envisage growth of 1.3 percent, the sources said.
Economy Expected To Contract Again In 2024
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