{"id":133984,"date":"2024-09-27T07:35:55","date_gmt":"2024-09-27T04:35:55","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/german-economy-to-shrink-again-in-2024-think-tanks\/"},"modified":"2024-09-27T07:35:55","modified_gmt":"2024-09-27T04:35:55","slug":"german-economy-to-shrink-again-in-2024-think-tanks","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/fi\/news\/german-economy-to-shrink-again-in-2024-think-tanks\/","title":{"rendered":"German economy to shrink again in 2024: think tanks"},"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\/fi\/login-2\/\" method=\"post\">\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=\"\/fi\/wp-json\/wp\/v2\/posts\/133984\" \/>\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    <\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/fi\/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>\n","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\n<p>Germany\u2019s economy is expected to shrink slightly in 2024, leading economic institutes said on Thursday, as the traditional manufacturing powerhouse continues to stagnate. Output in Europe\u2019s largest economy will decline by 0.1 percent this year, five think tanks said in a joint statement, after it shrank by 0.3 percent in 2023.<\/p>\n<p>The new figure was a small but significant downgrade on the institutes\u2019 previous estimate of 0.1 percent GDP growth for 2024, made earlier this year. \u201cThe German economy has been stagnating for more than two years,\u201d the institutes \u2014 DIW, Ifo, IfW Kiel, IWH and RWI \u2014 said in the joint statement. \u201cA slow recovery is likely to set in next year, but economic growth will not return to its pre-coronavirus trend for the foreseeable future,\u201d they said.<\/p>\n<p>The institutes forecast growth to reach 0.8 percent in 2025, a downward revision on their previous estimate of 1.4 percent. For 2026, they predicted the German economy to expand by 1.3 percent. Germany, traditionally a driver of European growth, was the only major advanced economy to shrink in 2023 as it battled high inflation, an industrial slowdown and cooling export demand. While inflation has slowly come down in 2024, a hoped-for recovery has failed to materialise between a continued industrial slowdown and weak demand in key market China.<\/p>\n<p>Most recently, the economy underperformed analyst expectations in the second quarter, shrinking by 0.1 percent. The factors weighing on the economy \u201cwill only gradually disappear\u201d, DIW\u2019s head of forecasting Geraldine Dany-Knedlik said at a press conference. \u201cThe early indicators for the third quarter suggest that economic output will once again fall slightly,\u201d Dany-Knedlik said. Besides the weak period for the global economy, Germany\u2019s problems were being impacted by \u201cstructural change\u201d, she said.<\/p>\n<p>Decarbonisation and demographic factors as well as stronger competition from China were \u201cdampening the long-term growth prospects\u201d, Dany-Knedlik said. The effects were being felt particularly in Germany\u2019s key manufacturing industry, which was hard hit by the increase in energy costs following the Russian invasion of Ukraine in 2022. The rise of competitors in China making high-quality goods for export is \u201cdisplacing German exports on world markets\u201d, the institutes said.<\/p>\n<p><a rel=\"noopener\" href=\"https:\/\/www.digitaljournal.com\/business\/german-economy-to-shrink-again-in-2024-think-tanks\/article\">Read more&gt;&gt;<\/a><\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.digitaljournal.com\/business\/german-economy-to-shrink-again-in-2024-think-tanks\/article\">DJ<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/csr-news-en\/german-economy-to-shrink-again-in-2024-think-tanks\/\">German economy to shrink again in 2024: think tanks<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","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":[555,15500],"class_list":["post-133984","post","type-post","status-publish","format-standard","hentry","category-news","tag-csr-news-en","tag-german-economy"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/133984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/comments?post=133984"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/133984\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/media?parent=133984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/categories?post=133984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/tags?post=133984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}