German economy decreases in the last quarter of 2024 by -0.2%, the decline was forecasted for the largest economy in EU.
The main contribution to this downfall of economic growth was a significant decline in exports of goods and services. With Q4 being the biggest drop off for GDP-figures quarter on quarter for Germany since 2020, lead to that the annual performance retracted by 0.2% annually. Germany has faced many challenges like international competition on goods and services, higher energy costs and elevated interest rates. All these challenges while there has also been political uncertainty of who will run the country (election took place on Sunday and will now be led by CDU (Christian Democratic Union of Germany). With CDU claiming most voters, they will still have to form a coalition as they only claimed 28.52% of the mandate in parliament.
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