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German economic growth stalls amid unexpected Q2 contraction
12 August 2024 20:51
Germany's economy is set to grow by just 0.1% in 2024, down from a previous forecast of 0.2%.
This follows an unexpected contraction in the second quarter, as ongoing industrial struggles continue to hinder growth, Caliber.Az reports via Bloomberg.
Although there was a slight increase in factory orders and production, it wasn't enough to offset earlier losses, and exports remained stagnant in June.
Analysts now foresee a slow recovery beginning in late 2024, with steady expansion through 2026. The German central bank also warns that weak demand persists and industrial activity will likely improve only gradually.
Caliber.Az
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