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German economic output falls in fourth quarter of 2024 – exports and industry remain a concern

24.02.2025

According to the current issue of the Bundesbank’s Monthly Report, German economic output fell surprisingly significantly in the fourth quarter of 2024. The main reasons for this were declining exports and weak industrial output, especially in the automotive sector, while private and government consumption expenditure rose. The labour market outlook also suggests a continued cooldown. 

German economic output falls in fourth quarter of 2024 – exports and industry remain a concern
An excavator carrying out earthworks on a construction site during winter time. ©Dara / AdobeStock