The German economy is not really getting going. The “economic wise men” have adjusted their forecast.
According to a forecast by the EU Commission, the German economy will grow even more slowly this year than previously expected. In an estimate presented by the Brussels authority on Wednesday, it forecast only minimal growth of 0.1 percent for the EU’s largest economy in 2024. The reasons given include weak foreign demand, sluggish private consumption and too little investment. The Federal Republic’s Commission recently predicted growth of 0.3 percent for 2024.
According to the Commission’s estimates, the situation across Europe looks somewhat better. In the EU, the economy will develop slightly more stable than recently expected: The Commission expects growth of 1.0 percent for 2024. In its winter forecast in February, it assumed an increase of 0.9 percent. The authority continues to forecast growth of 0.8 percent for the euro zone.
Economic forecasts from the EU Commission
Source: Stern
