German economic institutes slash 2024 GDP forecast to 0.1%
Leading German economic institutes said on Wednesday that they expect the country’s economy to grow by 0.1% in 2024, slashing their prior forecast of 1.3% as high interest rates, weak global demand and political uncertainty dent hopes for a stronger recovery. The institutes now forecast gross domestic product (GDP) to increase by 1.4% in 2025, revised from 1.5% previously. “Although a recovery is likely to set in from the spring, the overall momentum will not be too strong,” said Stefan Kooths, head of economic research at the Kiel Institute for ...
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