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Germany’s Lost Year Is Over But 2024 May Not Be Much Better
Even if Germany’s economy finally begins expanding again in 2024, it’ll struggle to shake off the funk behind one of its weakest annual performances in a generation. Beset by energy woes and creaking infrastructure, hit by a downturn in global demand, and lagging in the race for electric-vehicle dominance, the country was probably in recession as it ended 2023 with a shock court decision that undermined Berlin’s whole strategy for budget financing. With industrial data next week likely to show little improvement from a three-year low, the government strait-jacketed over ramping up investment, and the threat of ... (full story)