Germany's government slashes its economic growth forecast for this year to 0.3%
1 month, 3 weeks ago

Germany's government slashes its economic growth forecast for this year to 0.3%

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The German government on Wednesday slashed its 2025 growth forecast for the country's economy, Europe's biggest, to just 0.3% after it shrank for two consecutive years. Vice Chancellor Robert Habeck, who is also Germany's economy minister, said in a statement that “the global crises of recent years have hit our industry- and export-oriented economy particularly hard,” although an energy crunch was headed off after Russia's full-scale invasion and inflation has fallen. He said it has become increasingly clear that Germany suffers from fundamental structural problems including a shortage of skilled labor, “overflowing bureaucracy and investment weakness, in private as well as public investment.” Habeck pointed to “the currently high uncertainty” about U.S. economic and trade policy and uncertainty about Germany's own post-election course as a brake on sentiment for investment and consumers.

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History of this topic

Goldman Sees Faster German Growth on Fiscal Push, Fewer ECB Cuts
Trending News
3 weeks, 1 day ago

Goldman Sees Faster German Growth on Fiscal Push, Fewer ECB Cuts

Live Mint  

-- Goldman Sachs Group Inc. expects a pick up in Germany’s economy on the back of its plan to increase defense spending will spillover to neighboring countries and spur others in the euro area to raise military outlays too. Goldman economists including Sven Jari Stehn raised their gross domestic product growth forecast for Germany by 0.2 percentage point to 0.2% …

UK economic growth forecasts downgraded for 2025 – EY
1 month, 3 weeks ago

UK economic growth forecasts downgraded for 2025 – EY

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Stagnant growth late last year …

Germany’s government slashes its economic growth forecast for this year to 0.3%
1 month, 3 weeks ago

Germany’s government slashes its economic growth forecast for this year to 0.3%

Associated Press  

BERLIN — The German government on Wednesday slashed its 2025 growth forecast for the country’s economy, Europe’s biggest, to just 0.3% after it shrank for two consecutive years. Germany has managed no meaningful economic growth in the past four years as it has struggled to deal with major shifts in the global economy and with structural challenges of its own. …

Germany’s economic model is broken, and no one has a plan B
2 months ago

Germany’s economic model is broken, and no one has a plan B

Live Mint  

Christian Scharpf, the mayor of this city of 140,000, Germany’s second richest, is looking for ways to save close to €100 million. Manufacturers in Germany’s metal and electrical industry, weighed down by costs, could lay off as many as 300,000 workers over the next five years, said Stefan Wolf, president of a lobby group for the sector. The end of …

Battling political crisis, Germany’s economy shrinks in 2024 for second straight year
2 months, 1 week ago

Battling political crisis, Germany’s economy shrinks in 2024 for second straight year

Firstpost  

Gross domestic product in the eurozone’s largest economy declined 0.2 percent last year, according to preliminary figures from federal statistics agency Destatis, coming after a 0.3 percent contraction in 2023. File image/ Reuters The German economy contracted for a second straight year in 2024, official figures showed Wednesday, with little hope of a strong recovery ahead as Europe’s top economy …

Germany’s economy shrank for the second consecutive year in 2024
Trending News
2 months, 1 week ago

Germany’s economy shrank for the second consecutive year in 2024

Associated Press  

BERLIN — Germany’s economy shrank for the second straight year in 2024 as worried consumers held back on spending and Chinese competition ate into the country’s traditional exports of cars and industrial machinery. The year’s weak performance underlines Germany’s status as Europe’s worst performing major economy and shows the country as having no meaningful growth in the past four years …

Germany expected to see winter recession
2 months, 2 weeks ago

Germany expected to see winter recession

China Daily  

A steep drop in factory activity in Germany during November has raised fears of a winter recession, creating fresh challenges for Chancellor Olaf Scholz weeks before the Feb 23 general election. The Federal Statistical Office reported a 5.4 percent fall in Germany's industrial orders between October and November, with major contracts worth more than 50 million euros seeing the sharpest …

Germany expected to see winter recession
2 months, 2 weeks ago

Germany expected to see winter recession

China Daily  

A steep drop in factory activity in Germany during November has raised fears of a winter recession, creating fresh challenges for Chancellor Olaf Scholz weeks before the Feb 23 general election. The Federal Statistical Office reported a 5.4 percent fall in Germany's industrial orders between October and November, with major contracts worth more than 50 million euros seeing the sharpest …

U.S. protectionism could undermine modest growth forecast for eurozone, says EU Commission
4 months, 1 week ago

U.S. protectionism could undermine modest growth forecast for eurozone, says EU Commission

Associated Press  

FRANKFURT, Germany — Europe’s economy has left stagnation behind but is headed for only modest growth in coming months as consumers regain some of the purchasing power they lost to inflation, the European Union’s executive commission said Friday. AP AUDIO: U.S. protectionism could undermine modest growth forecast for eurozone, says EU Commission AP correspondent Charles de Ledesma reports Europe and …

Germany’s economy is in trouble. The government’s collapse and Trump’s return bring more risk
4 months, 2 weeks ago

Germany’s economy is in trouble. The government’s collapse and Trump’s return bring more risk

Associated Press  

WARSAW, Poland — The collapse of Germany’s governing coalition and President-elect Donald Trump’s imminent return to the White House are creating new risks for the European Union’s biggest economy, already in a troubling decline. “At the European level, political instability in Germany is not good news,’' Antonio Villafranca, vice president of the Italian think tank ISPI, said, noting that a …

Goldman Sachs slashes European growth forecasts on Trump win
4 months, 3 weeks ago

Goldman Sachs slashes European growth forecasts on Trump win

CNN  

London CNN — President-elect Donald Trump’s proposed protectionist policies, including hefty tariffs, will hurt Europe’s economic standing — leaving crisis-hit Germany particularly vulnerable, Goldman Sachs predicts. Following Trump’s re-election, the investment bank cut its growth forecasts for the region, predicting fresh trade tensions with the United States, pressure on Europe to increase defense spending and a hit to business confidence …

Germany's economy isn't growing. But its quarrelsome government can't agree on a way forward
4 months, 3 weeks ago

Germany's economy isn't growing. But its quarrelsome government can't agree on a way forward

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Scholz’s center-left Social Democrats, Vice …

UK economic growth forecasts downgraded for next two years – economists
5 months ago

UK economic growth forecasts downgraded for next two years – economists

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. EY Item Club’s latest quarterly economic forecast also suggested that caution by Bank of …

Germany's economy is on track to shrink for a second straight year
5 months, 2 weeks ago

Germany's economy is on track to shrink for a second straight year

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Germany's government said Wednesday that …

German government sees economy shrinking again in 2024
5 months, 2 weeks ago

German government sees economy shrinking again in 2024

New Indian Express  

The German government slashed its 2024 forecast Wednesday for Europe's largest economy, saying it will contract for a second straight year before a recovery gets underway in 2025. Germany's economy stalled in the first half of the year and a slew of disappointing indicators recently suggest "the economic weakness will persist into the second half of the year", it said. …

Europe’s growth lags US again, as Germany remains the eurozone’s economic problem child
7 months, 3 weeks ago

Europe’s growth lags US again, as Germany remains the eurozone’s economic problem child

Associated Press  

FRANKFURT, Germany — Europe’s economy saw modest growth in the April-June quarter even as the U.S. outperformed expectations, highlighting a persistent transatlantic growth gap. Europe’s growth is also held back by longer-term factors such as higher taxation and burdensome regulation that will mean average annual real GDP growth rates at least one percentage point lower than in the U.S., said …

Gloom settles over Germany’s economy, with businesses downbeat about the coming months
1 year, 1 month ago

Gloom settles over Germany’s economy, with businesses downbeat about the coming months

Associated Press  

FRANKFURT, Germany — Germany’s businesses remain mired in pessimism, a key survey showed Friday, as Europe’s largest economy struggles with shortages of skilled labor, slower global trade, high interest rates and political squabbling. The closely watched Ifo institute survey of business sentiment rose only slightly to 85.5 points in February from 85.2 points in January due to “slightly less pessimistic …

Germany says Europe’s largest economy is in ‘troubled waters’ and cuts its growth forecast
1 year, 1 month ago

Germany says Europe’s largest economy is in ‘troubled waters’ and cuts its growth forecast

Associated Press  

FRANKFURT, Germany — The German government said Europe’s largest economy was in “troubled waters” and slashed its growth forecast for this year as it struggles with a lack of skilled labor, excessive bureaucracy, high interest rates and lagging investment in new projects — while a relatively modest set of tax breaks for business remains blocked in the legislature. “The economy …

German economy limps into 2024 as business sentiment falls
1 year, 2 months ago

German economy limps into 2024 as business sentiment falls

Live Mint  

Berlin: German business morale unexpectedly worsened in January, declining for the second month in a row as Europe's largest economy struggles to shake off a recession and short-lived optimism gives way to fears of another weak year. As trade disruptions caused by Houthi attacks on shipping in the Red Sea bring fresh concerns for Germany's export industry, the closely watched …

Europe’s biggest economy shrank last year as Germany struggles with multiple crises
1 year, 2 months ago

Europe’s biggest economy shrank last year as Germany struggles with multiple crises

Associated Press  

FRANKFURT, Germany — Germany’s economy shrank 0.3% last year as Europe’s former powerhouse struggled with more expensive energy, higher interest rates, lack of skilled labor and a homegrown budget crisis. The International Monetary Fund expected Germany to be the worst-performing major developed economy last year, a major turnaround from its place as a model for how to expand when other …

Europe's biggest economy shrank last year as Germany struggles with multiple crises
1 year, 2 months ago

Europe's biggest economy shrank last year as Germany struggles with multiple crises

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Germany's economy shrank 0.3% last …

Germany, Europe’s biggest economy, shrank last year
1 year, 2 months ago

Germany, Europe’s biggest economy, shrank last year

CNN  

London CNN — Germany’s economy shrank last year for the first time since the onset of the Covid-19 pandemic, official data showed Monday, increasing the risk of an economic contraction in the wider euro area. WEF managing director Saadia Zahidi said the survey “highlights the precarious nature of the current economic environment.” The euro area is a case in point: …

Germany’s economy seen shrinking again in the current quarter as business confidence declines
1 year, 3 months ago

Germany’s economy seen shrinking again in the current quarter as business confidence declines

Associated Press  

BERLIN — Germany’s economy is likely to shrink again slightly in the current fourth quarter, the country’s central bank said Monday, while a survey showed business confidence retreating unexpectedly. The Bundesbank said in its monthly report that “real gross domestic product in Germany is likely to decline again slightly in the fourth quarter of 2023” as a result of weak …

The worst-performing major economy also faces a budget crisis. Germany’s leader vows fixes, but how?
1 year, 3 months ago

The worst-performing major economy also faces a budget crisis. Germany’s leader vows fixes, but how?

Associated Press  

FRANKFURT, Germany — German Chancellor Olaf Scholz vowed Tuesday that his government will work “as fast as possible” to solve a budget crisis, but he offered few details on how he would achieve his goals of promoting clean energy and modernizing the struggling economy after a court decision struck down billions in planned spending. Scholz and his quarrelsome governing coalition …

Germany, now the world’s worst-performing major economy, grapples with a budget crisis
1 year, 4 months ago

Germany, now the world’s worst-performing major economy, grapples with a budget crisis

LA Times  

German Chancellor Olaf Scholz delivers a speech on the government’s budget crisis at the Parliament in Berlin. Chancellor Olaf Scholz vowed recently that his government would work “as fast as possible” to lay out how to solve Germany’s budget crisis, but he offered few details on how he would achieve his goals of promoting clean energy after a court decision …

German government advisers see only modest economic growth next year
1 year, 4 months ago

German government advisers see only modest economic growth next year

Associated Press  

BERLIN — Germany’s economy will shrink by 0.4% this year and grow only by a relatively modest 0.7% next year, the government’s panel of independent economic advisers forecast Wednesday. Its prediction for this year was in line with one issued by the government about a month ago, but next year’s forecast was considerably gloomier than the 1.3% the government expects. …

German government forecasts that the country’s economy will shrink by 0.4% this year
1 year, 5 months ago

German government forecasts that the country’s economy will shrink by 0.4% this year

Associated Press  

BERLIN — Germany’s government said Wednesday that it expects the country’s economy to shrink by 0.4% this year, joining a string of other forecasters in revising sharply downward its outlook for Europe’s biggest economy. The Economy Ministry said in a statement that “the effects of the energy price crisis in combination with global economic weakness are weighing down the German …

German economy sinking in recession in 2023, predicts European Commission
1 year, 6 months ago

German economy sinking in recession in 2023, predicts European Commission

Live Mint  

Bearing the brunt of high inflation driven by factors like Russia-Ukraine crisis, German economy is expected to contract in 2023, predicted European Commission on Monday. The recent cut in forecast has come at a time when Euro's biggest economy is facing high inflation and the spill over effect of Russia-Ukraine war. Euro zone expected to grow slower, says EC The …

German central bank sees the economy stagnating again in the 3rd quarter
1 year, 7 months ago

German central bank sees the economy stagnating again in the 3rd quarter

Associated Press  

BERLIN — Germany’s central bank anticipates that the country’s economy, Europe’s biggest, will be more or less stagnant again in the current quarter — adding to a string of weak performances. German gross domestic product stagnated in the second quarter after declining in both of the two previous quarters as the country struggled with high energy prices, rising borrowing costs …

Germany used to be the world’s export powerhouse. Now, it’s not growing. What happened?
1 year, 7 months ago

Germany used to be the world’s export powerhouse. Now, it’s not growing. What happened?

Associated Press  

FRANKFURT, Germany — The German economy is still failing to grow, figures showed Friday, as the country that should be the industrial powerhouse for all of Europe struggles with high energy prices, rising borrowing costs and a lagging rebound from key trading partner China. It comes after the International Monetary Fund forecast this week that Germany would be the globe’s …

Germany used to be the world's export powerhouse. Now, it's not growing. What happened?
1 year, 7 months ago

Germany used to be the world's export powerhouse. Now, it's not growing. What happened?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The German economy is still …

British economy will outperform Germany this year, IMF admits
1 year, 8 months ago

British economy will outperform Germany this year, IMF admits

The Telegraph  

Britain will outperform Germany this year, according to the International Monetary Fund, after its worst fears for the UK economy failed to materialize. The IMF expects the UK economy to grow by 0.4pc this year, it said on Tuesday, confirming predictions published in May as part of its annual economic healthcheck. The IMF said the Windsor Framework agreement announced by …

Germany, Europe's largest economy, hits recession as inflation hits consumers
1 year, 10 months ago

Germany, Europe's largest economy, hits recession as inflation hits consumers

ABC  

The German economy has entered a recession which started in early 2023 after household spending in Europe's economic engine finally succumbed to the pressure of high inflation. Key points: Gross domestic product fell by 0.5 per cent in the fourth quarter of 2022 and 0.3 per cent in the first quarter of this year Forecasts of the IMF predicted a …

Germany economy shrinks in first quarter, signaling one definition of recession
1 year, 10 months ago

Germany economy shrinks in first quarter, signaling one definition of recession

Associated Press  

BERLIN — The German economy shrank unexpectedly in the first three months of this year, marking the second quarter of contraction that is one definition of recession. Two consecutive quarters of contraction is a common definition of recession, though economists on the euro area business cycle dating committee use a broader set of data, including employment figures. Employment in the …

Europe's largest economy succumbs, Germany declares recession
1 year, 10 months ago

Europe's largest economy succumbs, Germany declares recession

Firstpost  

Germany slipped into recession after its economy shrank in the first three months of 2023, marking the second quarter of contraction, country’s statistical office said on Thursday. The gross domestic product of Europe’s largest economy declined by 0.3 per cent in the period from January to March. Initial estimates had indicated that the GDP would remain stagnant at zero growth, …

Germany's GDP shrinks by 0.3% in first quarter to put Europe's biggest economy into recession
1 year, 10 months ago

Germany's GDP shrinks by 0.3% in first quarter to put Europe's biggest economy into recession

The Hindu  

New figures show the German economy suffered an unexpected dip in the first quarter of this year, putting the country formally into recession. Data released May 25 by the Federal Statistical Office shows Germany's gross domestic product, or GDP, down by 0.3% in the period from January to March. The figures are a blow to the German Government, which last …

German Economy Enters Recession After GDP Declines For Two Consecutive Quarters
1 year, 10 months ago

German Economy Enters Recession After GDP Declines For Two Consecutive Quarters

ABP News  

The German economy has contracted by 0.3 per cent in the first quarter of 2023, showed to the latest data released by the country's statistical office on Thursday. Germany's Federal Statistical Office report said, "The gross domestic product fell by 0.3 per cent in the first quarter of 2023 on the fourth quarter of 2022 after adjustment for price, seasonal …

German government doubles 2023 growth forecast to 0.4%
1 year, 11 months ago

German government doubles 2023 growth forecast to 0.4%

Associated Press  

BERLIN — The German government on Wednesday doubled its growth forecast this year for Europe’s largest economy after the country made it through the winter without major energy problems. The new government outlook for 2023 is a bit more optimistic than that of a group of four leading German economic research institutes, which earlier this month forecast growth of 0.3%. …

British economy will take a smaller hit in 2023 than previously anticipated, says IMF
1 year, 11 months ago

British economy will take a smaller hit in 2023 than previously anticipated, says IMF

Firstpost  

Britain is no longer the only Group of Seven economy set for a fall in GDP this year as Germany too is now expected to shrink by 0.1%, the IMF global forecasts indicated. After narrowly avoiding recession in 2022, Britain’s economy has shown some signs of resilience in early 2023 London: Britain is expected to take a smaller economic hit …

German economy shrank by 0.4% in Q4, worse than 1st reported
2 years, 1 month ago

German economy shrank by 0.4% in Q4, worse than 1st reported

Associated Press  

BERLIN — The German economy shrank by 0.4% in last year’s fourth quarter, the national statistics office said Friday, a sharp downward revision from its initial report that gross domestic product declined by 0.2%. The economy has generally held up well, despite pressure from high inflation and fears last year of an energy crunch as Russia reduced and then cut …

German economy shrank 0.2% in Q4, worse than expected
2 years, 1 month ago

German economy shrank 0.2% in Q4, worse than expected

Associated Press  

BERLIN — Germany’s economy shrank by 0.2% in the fourth quarter compared with the previous three-month period, official figures showed Monday. In the fourth quarter, “surging inflation weighed on consumers’ real purchasing power and concerns abounded about a possible acute gas shortage during the winter,” Timo Klein, principal economist at S&P Global Market Intelligence, wrote in a research note. Germany’s …

UN forecasts fall in global economic growth to 1.9% in 2023
2 years, 2 months ago

UN forecasts fall in global economic growth to 1.9% in 2023

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Painting a gloomy and uncertain economic outlook, the U.N. …

German economy to avoid recession in 2023, set to grow 0.2%
2 years, 2 months ago

German economy to avoid recession in 2023, set to grow 0.2%

Firstpost  

Berlin: The German government expects its economy to grow by 0.2 per cent this year instead of the 0.4% contraction it predicted in October,, the economy ministry said in its latest projections. Germany is all set to escape a recession this year, the government said Wednesday, as Europe’s biggest economy weathers the fallout from the Ukraine war better than expected. …

German economy seen stagnating in Q4, grew 1.9% in 2022
2 years, 2 months ago

German economy seen stagnating in Q4, grew 1.9% in 2022

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The German economy appears to …

German economy to shrink in 2023, government advisers expect
2 years, 4 months ago

German economy to shrink in 2023, government advisers expect

Associated Press  

BERLIN — The German government’s panel of independent economic advisers forecast Wednesday that Europe’s biggest economy will shrink by 0.2% next year. But a weak winter, with gross domestic product declining in the last months of the year and in the first three months of next year, is still widely expected. The advisers’ forecast of 1.7% growth this year and …

Germany sees unexpected growth in 3rd quarter; inflation up
2 years, 4 months ago

Germany sees unexpected growth in 3rd quarter; inflation up

Associated Press  

BERLIN — The German economy grew in the third quarter, an unexpectedly positive performance powered largely by private spending, official figures showed Friday. “The German economy managed to hold its ground despite difficult framework conditions of the global economy, with the continuing COVID-19 pandemic, supply chain interruptions, rising prices and the war in Ukraine,” the statistics office said. “Looking ahead, …

German government: Economy to shrink in 2023 as war bites
2 years, 5 months ago

German government: Economy to shrink in 2023 as war bites

Associated Press  

BERLIN — The German government on Wednesday slashed its growth forecast for this year and predicted that Europe’s biggest economy would shrink in 2023 as it deals with the fallout from Russia’s war in Ukraine, including Moscow cutting off natural gas supplies. Habeck said that despite the grim growth projections, employment would likely remain “robust.” Russian imports once accounted for …

Europe's largest economy Germany will fall into recession in 2023: OCED
2 years, 6 months ago

Europe's largest economy Germany will fall into recession in 2023: OCED

Firstpost  

Germany is facing soaring inflation, particularly in energy prices, after Russia cut gas supplies through the Nord Stream pipeline as tensions mount over the Ukraine war New Delhi: Europe’s largest economy Germany will fall into recession in 2023, the Organisation for Economic Co-operation and Development said on Monday. “Pessimism regarding the coming months has grown decidedly.” Energy prices spike as …

Germany: Recession clouds gather in Europe's largest economy
2 years, 6 months ago

Germany: Recession clouds gather in Europe's largest economy

Firstpost  

Germany’s key future indicator, the IFO survey of business confidence, pointed down for the fourth month in a row as high inflation fed by astronomical natural gas prices undermines consumer pricing power and imposes heavy costs on businesses Frankfurt: Europe’s largest economy is sending recession signals. Germany’s key future indicator, the IFO survey of business confidence, pointed down for the …

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