German economic output is likely to shrink again in 2024, after it has already fallen in the previous year. This is according to the Kiel Institute’s latest autumn forecast. Positive signals in the middle of the year have not been confirmed, which is why the Kiel Institute is revising its expectations for this year and the coming year significantly downwards. GDP is likely to fall by 0.1 percent in 2024 (summer forecast: +0.2 percent). For 2025 growth expectations are down from 1.1 percent to 0.5 percent. The unemployment rate is likely to rise to up to 6.1 percent, inflation is presumed to grad-ually ease to 2 percent.
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