Germany's economic growth has experienced a decline for the second consecutive year, with manufacturing and construction sectors severely impacted due to high interest rates and global competition.
Manufacturing in sectors like automobiles and machinery saw a significant reduction of 3% in output, attributed to fierce competition from China, as well as diminishing demand in European markets.
Amidst political uncertainty and economic challenges, more than a third of voters consider the economy to be Germany's primary issue as they approach the upcoming elections in February.
Carsten Brzeski, an economist at ING Bank, pointed out the critical need for the next government to commit to long-term economic reforms and investments to overcome stagnation.
Collection
[
|
...
]