Germany, Once a Powerhouse, Is at an Economic ‘Standstill’

January 18, 2024

The same could be said for the state of the German economy. “The economy is at a standstill in Germany,” said Siegfried Russwurm, the president of the Federation of German Industries. “We don’t see any chance of a rapid recovery in 2024.”Since it was rebuilt after World War II, Germany has been Europe’s main driver of economic growth, becoming an industrial powerhouse known for vast factories and fine-tuned engineering. “But once they make the jump to deregulate and let go of fiscal straitjackets, there is a lot of potential in the German economy. It’s just not being used.”The post Germany, Once a Powerhouse, Is at an Economic ‘Standstill’ appeared first on New York Times.