High energy costs and growing export competition – Germany's economy shrinks again

According to the Federal Statistical Office (Destatis), the price-adjusted gross domestic product (GDP) in 2024 has, based on initial calculations, decreased by 0.2%. This marks the second consecutive decline after the economy had already shrunk by 0.3% (price-adjusted) in 2023. In the final quarter of 2024, GDP, adjusted for price, season, and calendar effects, decreased by 0.1% according to current findings. This is a preliminary rough estimate; detailed results of the national accounts will be published on February 25, 2025. Cyclical and structural...