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Weak demand affects German manufacturing (data map)

Overseas Network, August 12According to Bloomberg News on the 12th,Economists say it’s almost impossible for Germany to achieve any growth this year as the economy unexpectedly shrank in the second quarter. The median forecast in Bloomberg’s monthly survey of economists shows that German gross domestic product will grow by 0.1% in 2024, down from a previous forecast of 0.2%. Economists also lowered their forecast for German economic growth in 2025 to 1.1%.

The forecast comes after economic data showed that Germany's industrial problems continued to hamper economic growth, causing Europe's largest economy to shrink in the second quarter. Germany's exports also failed to recover or grow in June, highlighting the challenges facing the country's manufacturing industry, which was once the main engine of German economic growth. The German central bank still warned in its latest monthly report that "the situation of weak demand has not been completely eliminated" and that "German industrial activity may still improve slowly." (Overseas Network Hou Xingchuan)

Editors: Hou Xingchuan, Li Meng