fra destatis.de
WIESBADEN – According to first calculations of the Federal Statistical Office (Destatis), the price adjusted gross domestic product (GDP) was 0.2% lower in 2024 than in the previous year. The decline in economic performance in Germany also amounted to 0.2% after adjustment for calendar effects. “Cyclical and structural pressures stood in the way of better economic development in 2024,” said Ruth Brand at the press conference held in Berlin on Germany’s 2024 gross domestic product. “These include increasing competition for the German export industry on key sales markets, high energy costs, an interest rate level that remains high, and an uncertain economic outlook. Against this backdrop, the German economy contracted once again in 2024,” Brand continued.
