{"id":125597,"date":"2024-02-22T07:35:41","date_gmt":"2024-02-22T05:35:41","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/germany-cuts-2024-growth-forecast-as-economic-woes-pile-up\/"},"modified":"2024-02-22T07:35:41","modified_gmt":"2024-02-22T05:35:41","slug":"germany-cuts-2024-growth-forecast-as-economic-woes-pile-up","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/news\/germany-cuts-2024-growth-forecast-as-economic-woes-pile-up\/","title":{"rendered":"Germany cuts 2024 growth forecast as economic woes pile up"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/125597\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\n<p>The German government slashed its growth forecast for 2024 on Wednesday, warning that Europe\u2019s largest economy was in \u201cdifficult waters\u201d as it faced a series of headwinds. Output is now seen expanding by a mere 0.2 percent this year, government spokesman Steffen Hebestreit said at a Berlin press conference. Last autumn, the government was still expecting 1.3 percent growth.<\/p>\n<p>The country ended 2023 in recession, shrinking by 0.3 percent, and the latest data suggest the first quarter of 2024 will see another contraction. \u201cThe German economy is still in difficult waters,\u201d Hebestreit told reporters. High interest rates, weaker demand and \u201cgeopolitical crises\u201d including conflicts in the Middle East and Ukraine were just some of the challenges confronting Germany, he added.<\/p>\n<p>Economy Minister Robert Habeck will unveil details of the latest economic report later on Wednesday. According to media reports, it will show that Germany risks facing anaemic growth up to 2028 if no action is taken. The German economy, Europe\u2019s largest and traditionally a driver of eurozone growth, is being buffeted by \u201ca perfect storm\u201d, Habeck said earlier this month. Germany\u2019s once-mighty industrial sector has been hit particularly hard by multiple headwinds.<\/p>\n<p>Having previously relied on cheap Russian gas imports, the sector is still reeling from the energy price surge triggered by Russia\u2019s invasion of Ukraine. The European Central Bank\u2019s streak of interest rate hikes to tame inflation has added to the pain, dampening demand and investments. Exports have slumped on weaker trading with key markets such as China, which increasingly produces its own goods. Geopolitical tensions including shipping disruptions in the Red Sea have added to trading woes.<\/p>\n<p>The long-promised shift to a greener economy meanwhile, requiring major public and private investment, has run into fresh hurdles after a shock legal ruling last year forced the government to rethink some of its climate spending plans.<\/p>\n<p><a rel=\"noopener\" href=\"https:\/\/www.digitaljournal.com\/business\/germany-cuts-2024-growth-forecast-as-economic-woes-pile-up\/article\">Read more&gt;&gt;<\/a><\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.digitaljournal.com\/business\/germany-cuts-2024-growth-forecast-as-economic-woes-pile-up\/article\">DJ<\/a> <\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/csr-news-en\/germany-cuts-2024-growth-forecast-as-economic-woes-pile-up\/\">Germany cuts 2024 growth forecast as economic woes pile up<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[555,1016,2117,1038,1331],"class_list":["post-125597","post","type-post","status-publish","format-standard","hentry","category-news","tag-csr-news-en","tag-cut","tag-forecast","tag-germany","tag-growth"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/125597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=125597"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/125597\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=125597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=125597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=125597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}