Scholz Advisers See German Economy Picking Up Into Next Year
- Independent panel of experts projects growth of 0.9% in 2025
- Household spending, exports seen as main drivers of expansion
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Germany’s economy will gain some momentum in coming months, supported by strengthening household consumption, although it will still barely muster growth this year, according to Chancellor Olaf Scholz’s independent panel of experts.
Gross domestic product is set to increase by just 0.2% in 2024, the advisers predicted in a twice-yearly report published Wednesday in Berlin, joining other forecasters in scaling back earlier growth projections. Next year, GDP is likely to expand by 0.9%, as Germany also benefits from stronger global trade, they added.