Germany's problems will likely be felt in Poland as well
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The largest European economy has fallen into a major slump, which does not bode well for either Germany or Europe. In 2023, Germany's GDP shrank by 0.3 percent, and since 2019, it has grown by a mere 0.7 percent. So, Germany has been in a slump for the most part since the pandemic – at least from an economic standpoint. With a small break in 2021, when the post-pandemic rebound allowed economic growth in Germany to reach 3 percent.
Even the higher-than-normal inflation did not help Germany's GDP. Rising prices, as long as they are still under control, usually tend to boost economic growth by stimulating trade. In December, consumer prices there rose by almost 4 percent y/y. This is just over 2 percentage points less than in Poland.
