For 2023, the Association of German Chambers of Commerce and Industry forecasts a shrink in the gross domestic product of 0.5 percent compared to 2022. Due to rising commodity and energy prices triggered by the Russia-Ukraine war, business expectations for 2022 are subdued. High inflation rates negatively affect consumer sentiment and influence the business situation of German companies. Two years earlier, in 2020, the corona pandemic and the lockdown caused economic output to collapse massively.
Year-on-year economic development in Germany in 2022 and 2023, with a forecast for 2024
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DIHK. (February 15, 2024). Year-on-year economic development in Germany in 2022 and 2023, with a forecast for 2024 [Graph]. In Statista. Retrieved November 26, 2024, from https://www.statista.com/statistics/1322607/economic-development-forecast-germany/
DIHK. "Year-on-year economic development in Germany in 2022 and 2023, with a forecast for 2024." Chart. February 15, 2024. Statista. Accessed November 26, 2024. https://www.statista.com/statistics/1322607/economic-development-forecast-germany/
DIHK. (2024). Year-on-year economic development in Germany in 2022 and 2023, with a forecast for 2024. Statista. Statista Inc.. Accessed: November 26, 2024. https://www.statista.com/statistics/1322607/economic-development-forecast-germany/
DIHK. "Year-on-year Economic Development in Germany in 2022 and 2023, with a Forecast for 2024." Statista, Statista Inc., 15 Feb 2024, https://www.statista.com/statistics/1322607/economic-development-forecast-germany/
DIHK, Year-on-year economic development in Germany in 2022 and 2023, with a forecast for 2024 Statista, https://www.statista.com/statistics/1322607/economic-development-forecast-germany/ (last visited November 26, 2024)
Year-on-year economic development in Germany in 2022 and 2023, with a forecast for 2024 [Graph], DIHK, February 15, 2024. [Online]. Available: https://www.statista.com/statistics/1322607/economic-development-forecast-germany/