According to the Federal Statistical Office, German economic growth for the third quarter of 2024 was a mere 0.1%, falling short of analysts' expectations.
Household consumption showed modest growth of 0.3%, while government spending increased by about 0.4%, but this was not enough to offset the decline in exports.
Germany's economy is facing significant challenges, including a decline in industrial orders linked to the COVID-19 pandemic and geopolitical tensions from the war in Ukraine.
Volkswagen's crisis exemplifies the economic troubles in Germany, as it struggles to reduce costs and potentially shut down multiple factories to stay afloat.
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