Germany's economy is in trouble. New data confirms that Europe's biggest economy shrank by 0.2% in 2024, following a 0.3% contraction in 2023. That means two years of recession, something Germany hasn't seen in over two decades.
#Germany #Economy #EconomicCrisis
#Germany #Economy #EconomicCrisis
Category
🗞
NewsTranscript
00:00Germany's economy is in trouble.
00:03New data confirms that Europe's biggest economy shrank by 0.2% in 2024, following a 0.3% contraction
00:11in 2023.
00:13That means two years of recession, something Germany hasn't seen in over two decades.
00:19Weak global demand hit German exports hard, while high inflation and rising interest rates
00:24dampened consumer and business spending.
00:27Export spending grew, but not enough to offset the slump, and 2025 isn't looking much better.
00:33Industrial output is expected to decline by another 0.1%, which would mark Germany's longest
00:39economic downturn since the Federal Republic was founded.
00:43At the same time, Berlin has sharply cut its 2025 growth forecast from 1.1% to just 0.3%,
00:51a sharp cut that signals little hope for a quick recovery.
00:55Meanwhile, France and Spain are growing, with Spanish growth surging by 3.2% last year.
01:02As Europe's economic engine splutters, is Germany headed for an even deeper crisis?