Macro - Country Economic Forecasts - Germany
We've lowered our GDP growth forecast for Germany in 2025 by 0.2ppts to 0.7% and still expect GDP to stagnate this year. The details of the Q2 GDP report were disappointing and more recent data has surprised to the downside as the drag from industry's recession remains large. Meanwhile, the growing labour market softness will curb the expected real income driven consumer recovery.
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