Germany’s economic weakness expected to persist in H2 ’24

Current economic indicators show that Germany’s economic weakness continued into the past quarter, according to the economy ministry’s monthly report released on Monday.

The report projects that this weak phase is likely to extend into the second half of 2024 before growth momentum begins to gradually improve in the following year.

The federal statistics office is set to release preliminary data for third-quarter gross domestic product at the end of this month.

The report highlights that recovery in Europe’s largest economy is expected to be initially driven by a rebound in private consumption. Subsequently, as foreign demand increases, exports are anticipated to rise, alongside a reversal in investment growth trends.