The media noted that various institutions are lowering expectations for GDP growth in the European country for this and next years. So, in the Ifo, the forecast fell to 0% instead of 0.4% earlier and 0.9% in 2025 (previously 1.5%). The Kiel Institute of World Economy is more pessimistic and predicts a 0.1% reduction in GDP by the end of this year.
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The publication noted that France also showed a negative result at the beginning of the third quarter — the industrial production of the state decreased by 0.5% with a forecast of 0.3%. According to experts, the dynamics of indicators in both countries is reflected by the sharp decline in the automotive sector.
Recall that on the eve it was reported that thousands of jobs could be cut in Germany. The reason is the transition of Europeans to electric cars, which negatively affects the key sector of the country's economy, the production of cars.
