Germany's government says it expects the country’s economy to shrink by 0.4% this year.
The buildings of the banking district are pictured in Frankfurt, Germany, early Wednesday, Oct. 11, 2023. Light strips are caused by vehicles driving by. 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 government predicted that gross domestic product will increase by 1.3% next year and 1.5% in 2025, helped by a decline in inflation. That is expected to average 6.1% this year, but drop to 2.6% next year and 2% in 2025. The Economy Ministry said it expects the economy to pick up around the turn of the year and then accelerate, helped by recovering consumer demand.
Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Germany 40 IG Client Sentiment: Our data shows traders are now net-short Germany 40 for the first time since Sep 29, 2023 when Germany 40 traded near 15,356.80.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Germany 40-bullish contrarian trading bias.
Read more »
Tennessee family facing deportation 15 years after fleeing Germany to homeschool kids granted 1-year reprieveA German family who moved to Tennessee 15 years ago to home school their children were granted a one-year reprieve after being threatened with deportation.
Read more »
Several more arrested over far-right German plot to launch coup and kidnap a ministerAuthorities say several more people suspected of being involved in planning a far-right coup and plotting to kidnap the German health minister have been arrested in raids in a number of regions
Read more »
Germany arrests more suspects linked to far-right coup, kidnapping plotProsecutors say that the group intended to create 'conditions similar to civil war' by using explosives to cause nationwide blackouts, and then kidnapping Health Minister Karl Lauterbach.
Read more »
USMNT calls up Alex Zendejas to replace injured Malik Tilliman for Germany friendlyMidfielder Malik Tillman will miss the United States men's national team's exhibitions against Germany and Ghana because of an unspecified injury.
Read more »
Tesla rejects union claims, reports of health and safety issues at German plantTesla rejects union claims, reports of health and safety issues at German plant
Read more »