The latest economic prognosis from the Institute of German Economy (IW) forecasts a ½ percent decline in Gross Domestic Product (GDP) for 2024.

Despite initial hopes for a robust recovery, the German economy faces persistent challenges with unfavorable conditions and an ongoing fiscal dispute. Following a ½ percent contraction in the current year, Germany's economic woes are set to continue in 2024 with a nearly ½ percent decline. In my opinion the private sector will shrink between 2.5 and 4%.