Last updated Nov 29, 2025
economy
In 2024, Germany’s economy will significantly underperform relative to peers and be one of the biggest economic losers, hurt by the loss of cheap Russian gas and intensified competition from cheap Chinese cars.
My prediction for biggest business loser in 24 is actually the German economy... I think double whammy for Germany.View on YouTube
Explanation

Available 2024 data show that Germany’s real GDP contracted by about 0.2% in 2024, while the euro area as a whole grew around 0.9%, and most large peers such as France, Spain and the U.S. recorded positive growth, placing Germany near the bottom of advanced economies. (destatis.de) The IMF and other analyses describe Germany as the only G7 country with no economic growth or two consecutive years of contraction over 2023–24, repeatedly characterizing it as the weakest performer and reviving the “sick man of Europe” label. (reuters.com) These same assessments explicitly link Germany’s weakness to the energy‑price shock from the shut‑off of Russian gas, which pushed energy costs up and hurt energy‑intensive industry. (aa.com.tr) In parallel, Germany’s auto sector—a key export engine—saw falling sales and shrinking market share in 2024 as cheaper Chinese EV makers gained ground in China and Europe, with analysts and policymakers warning that Chinese competition is undermining German carmakers and contributing to Germany’s poor growth performance. (politico.eu) Overall, Germany did significantly underperform its peers in 2024 and was widely viewed as one of the main economic losers among advanced economies, with both the loss of cheap Russian gas and intensified competition from Chinese cars identified as major headwinds—closely matching Sacks’s “double whammy” prediction.