On Tuesday, the German Statistical Office reported that the country's economy shrank by 0.2% in the fourth quarter of 2024 compared to the previous one...
This was due to a slowdown in economic activity across many sectors of the country. The decline in GDP in the last quarter of last year was explained by both internal and external factors.
A representative of the statistical office noted: "The GDP decline is related to smaller investments, especially in equipment, as well as reduced private consumption."
However, the statistician also indicated that exports of goods and services grew by 1.6%, which has become a positive moment overall for the German economy.
"Despite certain difficulties related to domestic demand, exports continue to be a driving force for the country's economic growth," added the representative of the statistical office.
