Germany's economy contracted for the second consecutive year in 2024, highlighting the depth of the downturn gripping Europe's biggest economy. Germany's economy shrank by 0.2% over the full year - in line with economists' forecasts - and by 0.

The German economy shrank for the second straight year in 2024 as worried consumers held back on spending and Chinese competition ate into the country’s traditional exports of cars and industrial machinery.

Germany’s economy, the largest in Europe, contracted for the second year in a row in 2024, official data showed Wednesday, underscoring the challenges facing the region as it tries to get economic growth back on track.