Germany Faces Second Year of Economic Recession

The German economy struggles with shrinking GDP and weak industrial performance, prompting calls for reforms.

Germany's GDP is projected to shrink by 0.2% in 2024, marking the second consecutive year of economic contraction.
Key industries like automotive and manufacturing are experiencing significant declines in orders and revenues.
The economic downturn is attributed to high energy costs, global market dependencies, and insufficient domestic reforms.
Economists urge the government to improve business conditions and reduce bureaucracy instead of expanding the welfare state.
Consumer sentiment remains low, with no significant growth in private consumption expected for the remainder of the year.