Overview

• 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.