German economy shrinks for second year in a row

First consecutive year of declining GDP since early 2000s highlights challenges facing Germany’s next government

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Germany’s economy has shrank for a second consecutive year for the first time in more than two decades, highlighting the challenges the next government will face after snap elections in February.

As voters prepare to head to the polls amid heightened political uncertainty in Europe’s largest economy, official figures showed gross domestic product fell by 0.2% last year after dropping by 0.3% in 2023.

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