November 7, 2024

Donald Trump’s election as U.S. President could mark yet another major blow for the struggling German economy.

Germany narrowly, and unexpectedly, skirted a technical recession in the third quarter, with preliminary data showing its gross domestic product grew by 0.2% after a 0.3% contraction in the previous quarter. The print came after the German economy ministry in October said it was now expecting the country’s economy will contract, rather than grow this year.

Not only is the country’s economy struggling to pick up pace, but a series of key indicators have also been painting a lackluster picture. That includes Germany’s composite PMI, which rose slightly in October, but remained in contraction territory, according to data from S&P Global and Hamburg Commercial Bank published Wednesday.

Read more:

https://www.cnbc.com/2024/11/07/trump-victory-deals-latest-severe-blow-to-a-struggling-germany.html