Germany Joins Argentina as Only G-20 Member Facing GDP Drop
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Germany faces the only contraction in any Group of 20 economy aside from Argentina this year, according to the OECD, which cut its outlook through 2024.
The euro-zone country will suffer a 0.2% drop in gross domestic product in 2023 — down from a previous projection for stagnation, the Paris-based organization said in new forecasts published Tuesday. It will then grow only 0.9% in 2024, down from 1.3% anticipated in June.