Europe's biggest economy shrank last year as Germany struggles with multiple crises - News Summed Up

Europe's biggest economy shrank last year as Germany struggles with multiple crises


Germany's economy shrank 0.3% last year as Europe's former powerhouse struggled with more expensive energy, higher interest rates, lack of skilled labor and a home-grown budget crisis. Germany's economy shrank 0.3% last year as Europe's former powerhouse struggled with more expensive energy, higher interest rates, lack of skilled labor and a home-grown budget crisis. Germany's economy shrank 0.3% last year as Europe's former powerhouse struggled with more expensive energy, higher interest rates, lack of skilled labor and a home-grown budget crisis. Germany's economy shrank 0.3% last year as Europe's former powerhouse struggled with more expensive energy, higher interest rates, lack of skilled labor and a home-grown budget crisis. Higher interest rates from the European Central Bank aimed at quelling inflation have crimped construction of new apartments and offices.


Source: ABC News January 15, 2024 19:04 UTC



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