Even if Germany's economy finally begins expanding again in 2024, it will struggle to shake off the funk behind one of its weakest annual performances in a generation.
Beset by energy woes and creaking infrastructure, hit by a downturn in global demand and lagging in the race for electric-vehicle dominance, the country was probably in recession as it ended 2023 with a shock court decision that undermined Berlin's whole strategy for budget financing.
With industrial data next week likely to show little improvement from a three-year low, the government straitjacketed over ramping up investment, and the threat of train strikes looming, few economists anticipate much of a pickup. A nation long seen as the motor of the euro zone is fumbling for the ignition.
"We're pretty pessimistic for German growth this year," said Mr Stefan Schneider, chief economist for Germany at Deutsche Bank Research. "A combination of cyclical and structural pressures are currently crushing the hope that the country can untangle its knot and return to its previous growth rates of 1.5 per cent to 2 per cent in the foreseeable future."
Finance Minister Christian Lindner acknowledged the "sick man of Europe" trope in body and speech when he appeared at a Free Democrats member event at Stuttgart's opera house on Jan 6.
Speaking with "a bit of a fever", Mr Lindner acknowledged the downbeat headlines about the German economy and the country's uphill battle. "We have too little economic growth," he said, while insisting that the economy "has enormous turnaround potential".
While surveys have pointed to a possible bottoming out in the country's manufacturing malaise, reports in the coming days may also underscore just how far it has fallen.
Esta historia es de la edición January 09, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición January 09, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
VERDY'S APPROACH AN EYE-OPENER
Former Lions turned coaches Alam Shah and Isa inspired by stint with Japanese club
Lions' morale-boosting win comes at a price
The Lions got a much-needed morale booster ahead of the Asean Football Federation (AFF) Championship as they beat Tokyo Verdy 2-1 on Oct 11 in the second of three friendlies against J1 League opponents in their Japan training tour.
Conditions to blame for 'ugly' draw, says Messi
Argentina were held to a 1-1 draw by Venezuela on Lionel Messi's return, as Brazil got their 2026 World Cup qualifying campaign back on track with a last-gasp 2-1 victory over Chile on Oct 10.
Belgium punish Italy at set pieces in 2-2 draw
Italy coach Luciano Spalletti blamed bad luck, as Belgium bounced back from two goals down to draw 2-2 with his 10-man side in Rome on Oct 10 to boost their hopes of reaching the Nations League quarter-finals.
CARSLEY'S MIDFIELD OVERLOAD BACKFIRES
England temp boss dismayed by mistakes as Three Lions lose to Greece for first time
Player strike in England unlikely: Sports law expert
The chorus of frustrated players and managers speaking out against football's gruelling fixture schedule continues to grow, with Liverpool defender Ibrahima Konate the latest to say he would support players' right to strike.
SOCCEROOS HAVE NO FEAR
They head to Japan with confidence despite never having beaten the Samurai Blue there
Toyota back in F1 with Haas tie-up
The United States-owned Haas Formula One team and Toyota announced a multi-year technical partnership on Oct 11, in a move bringing Japan's biggest carmaker back to grand prix racing for the first time since 2009.
SABALENKA TO STICK TO HER BRAVE PLAN
World No. 2 will be aggressive in Wuhan semi against Gauff; Fritz takes on Djokovic
Nadal's beauty lay in his purity as a competitor
To appreciate the retiring Rafael Nadal we can flip through record books, hunt down Uncle Toni, sift the clay for archaeological clues, speak to Roger Federer's therapist, delve into the physics of spin, but really it's best if we start with a dictionary.