IW Predicts Just 0.1% Growth for the German Economy Next Year

According to the German Economic Institute IW, the German economy is expected to grow by only 0.1% next year after contracting for two consecutive years. The stability in the service sector is deemed sufficient to offset ongoing declines in the industrial and construction sectors. IW's forecasts were seen exclusively by Reuters. IW's chief economist Michael Groemling stated, "This is no longer just a cyclical downturn; it is a serious structural crisis."