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Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Forecast: Germany's GDP will shrink in 2024

October, 14 2024
watermark Economic news

The economy of Germany, Europe's largest economy, is facing a mild recession. Analysts forecast a 0.1% contraction in gross domestic product in the third quarter, confirming concerns that arose after an unexpected decline in the second quarter.


Despite the fact that previously experts expected stagnation in the period from July to September, they now predict a decline in GDP for the whole year. This is a significant change from previous forecasts, when growth of 0.1% was expected. The German government estimates a 0.2% decline in GDP this year.


Such a scenario would be only the second time that Germany's GDP has fallen in several consecutive years since the country's reunification in 1990. Unlike other G7 countries, Germany in 2023 was the only country whose economy showed a decline of 0.3%.


In 2025, analysts expect the economy to grow by 0.8%, which, nevertheless, is lower than the previous forecast of 1%.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.