German newspaper Sueddeutsche Zeitung reported over the weekend on a dour forecast from German’s economy ministry, planning a downgrade to its 2024 economic growth forecast.
The new forecast will be for negative 0.2% growth, i.e. a shrinking economy, for 2024
- prior forecast was for +0.3%
- 2023 recorded a 0.3% contraction
For 2025, the forecast will be:
- +1.1% (prior forecast +1%)
- for 2026, +1.6%
The higher forecasts for 2025 and 2026 are based on implementation of government measures to stimulate growth.