[CNBC] Germany’s gross domestic product is now expected to grow by just 0.2% this year, as the country wades in "tricky waters," German Economy Minister Robert Habeck said Wednesday.
The revised GDP growth forecast is down from a previous estimate of 1.3%. Habeck said the government now anticipates German GDP to increase by 1% in 2025.
Speaking during a news briefing, the minister attributed the revised forecast to an unstable global economic environment and to the low growth of world trade, alongside higher interest rates.
Those issues have negatively impacted investments, especially in the construction industry, he said. |