German govt sees economy shrinking again in 2024

Germany has downgraded its economic forecast for 2024, now predicting a 0.2% contraction instead of the previously expected 0.3% growth. This marks a second consecutive year of economic decline, following a 0.3% contraction in 2023. The economy faces multiple challenges, including weak domestic and foreign demand, high interest rates, expensive energy costs due to the Ukraine war, and structural issues like an aging population and increased Chinese competition.READ FULL