The German Council of Economic Experts expects 0.2% gross domestic product growth this year, according to sources who have seen a draft document that will be presented on Wednesday.
A person in need receives a hot meal from the Caritas Foodtruck in Berlin, Germany December 6, 2022. REUTERS/Lisi Niesner/File PhotoBERLIN, May 14 - In its autumn forecast published in November 2023, the panel of experts forecast growth of 0.7% for 2024.
The German economy shrank by 0.2% last year, the weakest performance among big euro zone economies, as high energy costs, lacklustre global orders and record high interest rates took their toll., growing by 0.2% in the first quarter from the previous three-month period in adjusted terms. In the last quarter of 2023, the economy shrank 0.5%.Private consumption is expected to contribute significant growth momentum as real wages are expected to rise in a resilient labour market.
Inflation is likely to be at 2.4% this year, falling to 2.1% in 2025. Inflation was at 5.9% last year, hitting private consumption. As inflation eases, it can be assumed that the first interest rate cuts by the European Central Bank will take place over the course of the year, improving financing conditions in areas such as construction.Global stock indexes were slightly higher and the U.S. dollar index was lower on Tuesday as investors digested stronger-than-expected U.S. producer prices data and also comments from Federal Reserve Chair Jerome Powell on inflation.
EREP ANLINS DBT ECI ECO EXCLSV GDP GEN GFIN GVD INFL MCE NEWS1 POL CEEU WEU EUROP EZC EMEA DE EZ ECON FIN RULES:WORLD-GERMANY CEN INT PLCY MTPIX ECB EU INTAG
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exclusive-German government slightly raises 2024 GDP forecast to 0.3%, source saysExclusive-German government slightly raises 2024 GDP forecast to 0.3%, source says
Read more »
2024-25 NFL predictions: 6 Over/Under bets to make for 2024 seasonColin Cowherd unveiled his best NFL win total future bets, including taking the Over on the Packers, and the Under on America's Team.
Read more »
2024 Emilia Romagna Grand Prix 2024 Odds, Picks, and Predictions: Norris Making a Name for HimselfGet 2024 Emilia Romagna Grand Prix predictions, picks, and odds for 2024, plus F1 betting picks and driver odds at Autodromo Enzo e Dino Ferrari on 5-19-2024.
Read more »
2024 Lexus GX 550, 2024 GMC Hummer EV SUV, 2025 Porsche 911: The Week In ReverseWe towed with the 2024 Lexus GX 550, went off-roading in the 2024 GMC Hummer EV SUV, and spied the 2025 Porsche 911. It's the Week in Reverse, right here at Motor Authority. We hooked 5,000 pounds of multi-species boat to the rear end of the 2024 Lexus GX 550 to see how the new SUV towed.
Read more »
iPad Pro (2024) vs. iPad Air (2024): the difference is clearApple's new iPad Pro and iPad Air series have never been more different. For the best experience, it's the iPad Pro. To save some money, choose the iPad Air.
Read more »
2024 iPad Air vs. 2024 iPad Pro: spec comparisonApple recently updated the iPad Air and iPad Pro with new chips, better screens, and other capabilities. But which is right for you? Here, we compare the two tablets.
Read more »