Germany’s economic contraction extended into December, marking six straight months of decline as weak manufacturing output offset modest stability in the services sector.
Global trade will hit $33 trillion in 2024, driven by services sector growth, while goods trade lags behind, UNCTAD reports. Opportunities exist for diversification despite challenges.
UNCTAD’s report reveals global growth will stagnate at 2.7% in 2024-2025, posing risks to development and climate goals while impacting the Global South’s debt levels and overall economic resilience.
