Germany’s economy entered recession in late 2022 and, according to revised statistics, did not grow for the next two years.
This was reported by Bloomberg. The report noted that there had been six production cuts over seven quarters, interrupted only by stagnation in the summer of 2023.
The updated data showed that “Germany’s economy has struggled to maintain even modest growth, as firms have faced supply chain disruptions, high energy costs, and bureaucracy, issues that existed long before US President Donald Trump threatened to disrupt trade.”
The article emphasizes that experts predict a 0.2% economic growth this year.
Earlier, Focus magazine wrote that Germany could face a budget deficit of up to €172 billion by 2029.
