In the third quarter of this year, Germany's gross domestic product (GDP) growth rate was recorded at 0.0% compared to the previous quarter.
The Federal Statistical Office of Germany announced on the 30th (local time) that "while capital investment increased positively, exports declined compared to the previous quarter."
The German economy grew by 0.3% in the first quarter of this year, as exports surged ahead of the implementation of U.S. tariffs, but recorded -0.2% in the second quarter.
The annual economic growth rate was -0.3% in 2023 and -0.2% last year. Both the German federal government and the Bundesbank (the central bank) expect this year's economic growth rate to be 0.0%, narrowly avoiding three consecutive years of negative growth.
Germany's economy has failed to maintain its post-COVID-19 recovery and has fallen into a prolonged recession. The surge in energy prices following the outbreak of the war in Ukraine in February 2022 is also a factor holding back the economy.
This year, various tariffs introduced by U.S. President Donald Trump have impacted export industries such as automobiles. The coalition government, which was launched in May, decided to inject astronomical budgets into defense and infrastructure, but the stimulus effects have yet to materialize.
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