German economy will stagnate this year -adviser

The German economy will stagnate at around 0% growth this year, with a recovery from negative growth seen in the second half of 2023, the head of the so-called "wise men" economic advisory council to the government said on Wednesday. "Growth will be plus/minus zero", Monika Schnitzer told Reuters, citing the Chinese economy and interest rates in Europe as factors.

She spoke as the Ifo institute on Wednesday separately predicted the German economy would contract more than expected this year.