Experts slash economic growth for Germany
Five of Germany's economic research institutes slash Germany's GDP outlook, citing low domestic demand, and high gas and electricity prices hitting exports.
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00:00 A group of five leading German think tanks have slashed their economic growth forecast
00:07 for Germany this year from 1.3 percent down to 0.1.
00:13 The group said that a slow recovery would begin in the spring, although it will be sluggish.
00:17 "The economy in Germany is hit hard.
00:23 A ten-year weakness is followed by a surge in growth.
00:30 In the sluggish economic development, both the economic and structural factors are at
00:35 risk.
00:36 A recovery should begin in the spring, but the dynamics will not be too big."
00:45 Europe's largest economy has struggled with energy costs soaring since Russia's invasion
00:50 of Ukraine and stubbornly high inflation.
00:53 The prospects appear better for 2025, with experts predicting growth of 1.4 percent.
00:58 (whooshing)