Germany's GDP set to shrink by 0.2%: DIHK

Germany's gross domestic product, or GDP, is on course to shrink by 0.2 percent in 2024, according to the German Chamber of Commerce and Industry, or DIHK.

The organization predicted on Tuesday, revising its May forecast that GDP would neither expand nor contract during 2024.

And the DIHK had more bad news for Germany's government, predicting GDP will be stagnant during 2025. If that happens, it would mean Europe's largest economy had failed to grow for three consecutive years.