The German economy is expected to contract by 0.2% in 2024, an economy ministry spokesperson said on Monday, confirming an earlier report in the Sueddeutsche Zeitung newspaper.

The economy ministry sees the German economy contracting by 0.2 percent this year, a dramatic downgrade from its prior estimate of 0.3-percent growth, according to the Sueddeutsche newspaper

The German government expects the nation’s economy to shrink by 0.2% this year, Sueddeutsche Zeitung reported ahead of an official estimate due on Wednesday, without saying how it got the information.

Germany's economy ministry plans to downgrade its 2024 economic growth forecast, expecting Europe's largest economy to shrink by 0.2%, newspaper Sueddeutsche Zeitung reported on Sunday. The forecast for an inflation-adjusted contraction,

The German government has slashed its forecast and now expects Europe's largest economy to shrink for a second year running as hopes for a consumption