GDP is now expected to grow by just 0.1% this year, leading economic think tanks say A group of leading German economic institutes have slashed growth forecasts for the EU’s top economy in 2024 to 0.1% from an earlier projection of 1.3%. In a “Joint Diagnosis” report published on Wednesday, the economic think tanks attributed the downgrade to high interest rates, weak global demand, and political uncertainty, saying these factors had dented hopes of a stronger recovery. German economic output was barely higher than before the Covid-19 pandemic, as productivity has been at a standstill since then, the institutes sa
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