German Economy Faces Stagnation: New Projections for 2024

The German government is now expecting stagnation rather than the previously projected 0.3% growth for this year. Officials are working on new projections for 2024, which could change before being finalized. A spokesperson stated that the updated forecast will be published in mid-October.

The German government is bracing for economic stagnation this year, down from an earlier projection of a 0.3% growth rate, Bloomberg reported on Monday, citing sources familiar with the matter.

Officials from the economy ministry are currently revising the projection for 2024, although these figures may still be subject to change before their final release.

A spokesperson for the ministry declined to comment on the interim report but confirmed that the revised forecast would be made public in mid-October.

(With inputs from agencies.)