German GDP growth was -0.2% QoQ and -0.2% YoY, a worse-than-expected decline below the projections of -0.1% QoQ and 0.0% YoY, despite household and government consumption increases. Exports were significantly lower. The Q4 results confirm another annual GDP decline of -0.2% in 2024, slightly worse than the -0.1% in 2023.