Experts slash economic growth for Germany

euronews (in English)

Five of Germany's economic research institutes slash Germany's GDP outlook, citing low domestic demand, and high gas and electricity prices hitting exports.

Transcript

00:00 A group of five leading German think tanks have slashed their economic growth forecast

00:07 for Germany this year from 1.3 percent down to 0.1.

00:13 The group said that a slow recovery would begin in the spring, although it will be sluggish.

00:17 "The economy in Germany is hit hard.

00:23 A ten-year weakness is followed by a surge in growth.

00:30 In the sluggish economic development, both the economic and structural factors are at

00:35 risk.

00:36 A recovery should begin in the spring, but the dynamics will not be too big."

00:45 Europe's largest economy has struggled with energy costs soaring since Russia's invasion

00:50 of Ukraine and stubbornly high inflation.

00:53 The prospects appear better for 2025, with experts predicting growth of 1.4 percent.

00:58 (whooshing)

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