Central Banks
German Economy May Contract in 2024, Bundesbank Chief Says
- Second half of year is weaker than expected, he says in Berlin
- ECB official worries about more protectionism if Trump wins
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The German economy is likely to experience another year of contraction with the US election posing an additional risk to Europe’s growth, according to Bundesbank President Joachim Nagel.
“This year we’re not expecting any growth at all, or possibly even a recession, because the second half of the year seems to be significantly weaker than we thought six months ago,” Nagel said in Berlin on Tuesday.