The German economy is heading into 2024 without any tailwind. Economists currently see no signs of an immediate trend reversal.
In a European comparison, Germany ranks at the bottom of the list. Crises and wars as well as persistently high inflation unsettled consumers and prevented consumer sentiment from improving, the Federal Statistical Office said. The mood in the German economy deteriorated at the beginning of the year. The Ifo business climate fell in January for the second month in a row. The attacks by Houthi rebels in Yemen on ships with alleged Israeli connections in the Red Sea are causing concern.