Posted 2/22/2024, 4:22:06 PM
German Growth Forecasts Slashed as Economy Slows, But Labor Market Stays Strong
- Germany's economy is slowing, with growth forecasts for 2024 cut from 1.3% to just 0.2%
- Inflation has fallen to a more manageable level, but people are still hesitant to spend
- Labor market remains strong with low unemployment, but skilled worker shortage looms
- Government disputes continue over best policy response - invest vs cut taxes
- Major investments planned for energy transition, housing, infrastructure to address structural issues