Germany slashes 2024 growth forecast to 0.2%

The German government slashed its growth forecast for 2024 on Wednesday, warning that Europe’s largest economy was “in difficult waters” as it battles a series of headwinds.

Output is now seen expanding by a mere 0.2 percent this year, government spokesman Steffen Hebestreit said at a Berlin press conference, down from 1.3 percent previously. “The German economy is still in difficult waters,” he said.