Germany’s economy slipped into contraction in the second quarter of 2024, shrinking by 0.1% as weakening demand from the United States dampened export growth. The unexpected downturn marks a setback for Europe’s largest economy, highlighting concerns over global trade tensions and slower foreign consumption. Analysts warn that the decline could signal broader challenges ahead for Germany’s industrial sector amid an uncertain international outlook.
Germany’s Economy Contracts as Export Demand from the U.S. Declines
The German economy experienced a slight contraction of 0.1% in the second quarter, signaling growing concerns about the resilience of Europe’s largest economy amid shifting global trade dynamics. Key industries, particularly manufacturing and automotive sectors, faced headwinds as export demand from the United States weakened. This slowdown in American consumption has directly impacted German exporters, who rely heavily on U.S. markets for growth. Analysts…
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Author : Olivia Williams
Publish date : 2025-07-30 16:45:00
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