Germany's economy shrank for the second year, falling 0.2% in 2024 amid high costs and uncertainty.

Germany's economy shrank by 0.2% in 2024, marking its second year of decline following a 0.3% drop in 2023. The contraction was forecasted and attributed to high energy costs, increased competition in exports, and economic uncertainty. The economy also saw a 0.1% decline in the fourth quarter. Political debates focus on strategies to boost economic growth ahead of the February 23 election.

2 months ago
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