Browsing: economic contraction

Germany’s auto sector slashed 51500 jobs in a year as industrial employment fell 2.1 percent, driven by declining exports and rising operational costs.

Germany’s economic contraction extended into December, marking six straight months of decline as weak manufacturing output offset modest stability in the services sector.

Germany faces a 0.2% GDP drop in 2024, marking its second contraction year, as structural challenges and trade risks weigh on recovery, Bundesbank and ECB warn.

German consumer confidence for December plummets to -23.3 amid fears of widespread job cuts by major companies like Volkswagen, Bayer, and Thyssenkrupp, increasing economic and political uncertainty.