German gross domestic product fell by 0.3 percent in the fourth quarter of 2023 compared to the previous quarter. Many economists also expect a weak start to 2024.
Crises and wars as well as persistently high inflation unsettled consumers and prevented consumer sentiment from improving. But there are initial rays of hope in private consumption. According to forecasts, inflation will fall this year while wages will rise at the same time. But according to the consumer research institute GfK and the Nuremberg Institute for Market Decisions, people's purchasing mood has recently deteriorated.