7 hours agoHappens for the second year in a row, the German economy again falls
Periskopi(a year ago)
(a year ago)Germany's economy has contracted for the second consecutive year for the first time in more than two decades, underlining the challenges the next government will face following early elections in February. As voters prepare to go to polling stations amid increased political uncertainty in the economy [...]
Germany's economy has contracted for the second consecutive year for the first time in more than two decades, underlining the challenges the next government will face following early elections in February.
As voters prepare to go to the polls amid increased political uncertainty in Europe's largest economy, official figures showed that the gross domestic product fell by 0.2% last year, after falling by 0.3% to 2023.
The figures show the second two-year contraction in the German economy since the 1950s, after it contracted in 2002 and 2003.
The German economy has come under great pressure as the country's industrial companies cut production in the face of repressed domestic demand, increased energy prices, and increased competitiveness by Chinese imports.
Recent figures showed that production decreased significantly in 2017, with the grossly increased value falling by 3% compared to a year ago. /tch
