German economy grows slower than expected in third quarter – DW – 11/22/2024
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According to preliminary data from the federal statistics office, the economy grew only 0.1% compared to the second quarter. Economists hope sinking inflation will drive consumer spending.

Summary

Germany’s economy grew by just 0.1% in Q3 2024, falling short of the 0.2% estimate, as reported by the Federal Statistical Office.

Household and government spending saw modest increases of 0.3% and 0.4%, respectively, but exports fell by 2.4%.

The economy continues to struggle with industrial downturns, reduced orders, and the lingering effects of COVID-19 and Russia’s war in Ukraine.

Economic woes have contributed to Volkswagen’s budget crisis and the collapse of Chancellor Olaf Scholz’s coalition government.