Germany, Europe’s largest economy, has not seen significant growth in the past two years.
On Friday, the country’s economy recorded 0.1 percent growth from July to September, but it is forecast to contract over the entire year.
And economists do not expect to see a return to growth in 2025, unless a new government can make significant changes quickly.
Driving that point home, Germany’s largest auto supplier, Bosch, said on Friday that it planned to cut 5,500 jobs, beginning in 2027.
High energy prices, a complex bureaucracy, an aging public infrastructure and geopolitical developments have hurt Germany’s export industry.
Organizations:
Bosch
Locations:
Germany, Europe’s