Rheinland-Pfalz Economy Contracts for Third Consecutive Year

The region's 2024 GDP declined by 1.1%, reflecting broader national struggles in manufacturing and exports.

• Rheinland-Pfalz's GDP fell by 1.1% in 2024, marking its third consecutive year of economic contraction.
• The region's economic decline was significantly sharper than the national average of a 0.2% GDP drop in 2024.
• Weaknesses in manufacturing, particularly in machinery and pharmaceuticals, were major contributors to the downturn.
• Employment in Rheinland-Pfalz decreased by 0.2% in 2024, with the total hours worked dropping by 1% to 2.68 billion.
• Germany's broader economic stagnation stems from global trade tensions, high energy costs, and declining industrial competitiveness.

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