Germany's economy shrank for the second straight year in 2024, facing global disruptions and rising costs.

Germany's economy shrank for the second year in a row in 2024, with GDP falling by 0.2%, marking the first time since the early 2000s. This decline is attributed to global disruptions, rising costs, and labor shortages, challenging its export-driven model. Business insolvencies surged by 24.3%, and the unemployment rate rose to 6%. Experts call for structural reforms to boost innovation and investment.

2 months ago
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