In its latest monthly report, released earlier today, Germany's economy ministry suggested that the weak economic phase is likely to continue in the second half of 2024, noting that the current indicators point to continued weakness in the domestic economy in the third quarter.
The ministry, however, added that the growth momentum is expected to gradually pick up again in 2025, initially driven by a rebound in private consumption, followed by an increase in exports later in the year, as foreign demand improves and investment resumes growth.
Preliminary estimates of Germany's third-quarter GDP growth are set to be published by the Federal Statistics Office at the end of this month.