Its economy developed little in the third quarter of 2024, as from July to September, it increased by 0.1% compared to the previous quarter, according to the Federal Statistical Office’s second estimate. At the end of October, this service had estimated a 0.2% growth for Europe’s largest economy based on preliminary data. In the second quarter, Germany’s GDP had already dropped by 0.3%. If GDP had shrunk again in the third quarter, the German economy would have slipped into a “technical recession” according to the usual definition. Economists refer to this as a reduction in two successive quarters. Despite the last ray of hope, the German economy remains weak, which the Bundesbank expects to continue in the current quarter. There are many adverse winds: China has lost its momentum as a growth lever in global markets, while the number of bankrupt enterprises is growing vertically in Germany.
Germany’s economic grip continues: Only 0.1% increased its GDP in the third quarter 2024
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