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The Federation of German Industries (BDI) forecasts the German economy to contract by 0.1% in 2025. That would follow a 0.2% decline in 2024 and a 0.3% contraction in 2023.
The German economic crisis is a significant downturn of Germany's economy that marked a dramatic reversal of its previous "labour market miracle" period of 2005–2019. The country, which had been considered to be Europe's economic powerhouse in prior decades, became the worst-performing major economy globally in 2023 with a 0.3% contraction, followed by minimal growth in 2024 leaning on ...
Germany’s economy, the largest in Europe, contracted for the second year in a row in 2024, official data showed Wednesday, underscoring the challenges facing the region as it tries to get ...
The German government on Wednesday slashed its 2025 growth forecast for the country's economy, Europe's biggest, to just 0.3% after it shrank for two consecutive years. The new projection is much ...
The pandemic, which snarled supply chains, and the war in Ukraine are to blame for much of Germany’s current predicament, argues Brzeski, but many of its problems run deeper, and are self-inflicted.
On August 25, 2020, Federal Statistical Office of Germany revealed that the German economy plunged by 9.7% in the second quarter which is the worst on record. The latest figures show how hard the German economy was hit by the government measures in response to the COVID-19 pandemic. [165]
On 9 March, the first COVID-19 deaths in Germany, an 89-year-old woman in Essen and a 78-year-old man in Heinsberg, were reported. [8] By the evening of 10 March, the count of cases in the state rose to 648. [137] All mass events in North Rhine-Westphalia with more than 1000 participants were banned with immediate effect. [138]
For years afterward, Germany balanced its budget or even ran small surpluses as the economy lived large on cheap Russian natural gas and booming exports of luxury cars and industrial machinery ...