German economy contracts 0.2% in 2024 in second consecutive annual slowdown
The skyscrapers of the Frankfurt skyline in the evening, with the Deutschherrn Bridge in the foreground.
Frank Rumpenhorst | Picture Alliance | Getty Images
The German economy contracted by 0.2% in 2024, in the country’s second consecutive yearly slowdown, data from statistics office Destatis showed Wednesday.
The drop was in line with the expectations of economists polled by Reuters, according to LSEG data. The European Commission and a group of Germany’s leading economic institutes had both independently forecast a 0.1% dip in the German GDP in 2024.
Germany’s economy had already contracted by 0.3% in 2023.
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