Researchers: Germany's economy will continue to shrink in the first quarter of 2024. “The German economy is having a hard time finding a way out of the economic slump,” said Timm Bönke, co-head of forecasting and economic policy at DIW Berlin.
The German gross domestic product shrank by 0.3 percent at the end of 2023 and for the year as a whole. Federal Economics Minister Robert Habeck recently massively lowered the government's growth forecast for 2024 from 1.3 to 0.2 percent.