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AP National

Germany used to be the world’s export powerhouse. Now, it’s not growing. What happened?

KIFI
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Published 4:36 AM

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — The German economy is still failing to grow. The country that should be the industrial powerhouse for all of Europe is struggling with high energy prices, rising borrowing costs and a lagging rebound from key trading partner China. Official figures released Friday show economic output stagnated in the April-to-June quarter. That follows a declines in the first three months of the year and last three months of 2022 as the energy shock from Russia’s war in Ukraine echoed through Europe’s largest economy. It comes after the International Monetary Fund forecast that Germany would be the only developed economy to shrink this year.

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