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.

Friedrich Merz, the chancellor candidate for the conservative Christian Democratic Union, acknowledged the need for a “major effort” to revive the economy as his party pledges to return German growth to 2 percent over the next five years through changes to the welfare and tax systems.

Europe's biggest economy shrank for a second year in a row in 2024, according to data released on Wednesday by the Federal Statistics Office.

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.

Germany’s economy contracted for a second straight year in 2024, underlining the scale of the challenge that will face a new government after elections due in February, including the possibility of fresh tariffs on its exports to the U.