Germany's economy contracted 0.1% in Q2 2024 due to weak consumption, investments, and exports.

Germany's economy contracted by 0.1% in Q2 2024, marking a decline from the 0.2% growth in Q1. Weak household consumption, investments and exports were cited as major factors for the economic slowdown. The German economy has faced stagnation and has been growing slower than other European countries. The decline in manufacturing and construction investments as well as faltering international trade contributed to the cooling economy.

August 27, 2024
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