Germany is experiencing a two-year recession, making it the only EU nation in decline. As of 2024, closures have exceeded those during the 2011 crisis due to high energy prices, a shortage of skilled workers, and bureaucratic hurdles. The Federal Government's economic advisory body forecasts little hope for swift recovery. Their spring report warns of a stagnation period in 2025, followed by potential slow growth. The economic model that thrived on cheap energy has deteriorated, further complicated by geopolitical tensions, notably Russia's actions, which have impacted energy supplies.
The German economy has become less and less competitive due to various factors, including high energy costs and bureaucratic inefficiencies.
In its spring report, the German Council of Economic Experts indicated a 'period of considerable sluggishness,' projecting stagnation in 2025.
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