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German government expects economy to shrink by 0.2% this year, Sueddeutsche reports

Summary by WTVB
FRANKFURT (Reuters) - Germany's economy ministry plans to downgrade its 2024 economic growth forecast, expecting Europe's largest economy to shrink by 0.2%, newspaper Sueddeutsche Zeitung reported on Sunday. The forecast for an inflation-adjusted contraction, which the ministry is due to publish on Wednesday, follows a previous government projection of 0.3% growth this year after a 0.3% contraction in 2023. Last month Germany's leading econo…
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