Germany's economy shrank in recent months and business confidence is still in the dumps, according to figures released Friday, Nov. 24, 2023 while the government is struggling to overcome a budget crisis that threatens to exacerbate problems in what was already the world’s worst-performing major developed economy. Germany's economy shrank in recent months and business confidence is still in the dumps, according to figures released Friday, Nov. 24, 2023 while the government is struggling to overcome a budget crisis that threatens to exacerbate problems in what was already the world’s worst-performing major developed economy. Germany's economy shrank in recent months and business confidence is still in the dumps, according to figures released Friday, Nov. 24, 2023 while the government is struggling to overcome a budget crisis that threatens to exacerbate problems in what was already the world’s worst-performing major developed economy. Europe's largest economy contracted 0.1% in the July-to-September quarter as inflation eroded people's willingness to spend, Germany's statistics office said. The country’s budget crisis raises the possibility of spending cuts next year, which economists say would worsen the challenges facing the stagnating German economy.

Source: ABC News November 24, 2023 23:44 UTC