Germany expects a contraction in 2023, with a downward revision next year
In its latest economic outlook, the German government predicted that the country's economy would shrink this year and cut its growth forecast for 2024. According to the data, Germany's GDP is expected to shrink by 0.4% in 2023, compared with a previous forecast of 0.4% growth. The economy is expected to grow 1.3 percent in 2024, compared with a previous forecast of 1.6 percent growth.
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