Germany remains the eurozone's troubled economic child and sets back Europe, while the U.S. continues to lead the way
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Germany's economy contracted by 0.1% in the second quarter, while the eurozone's GDP rose by 0.3%; The U.S. economy grew by 0.7% in the second quarter; Higher interest rates in Europe have brought inflation down but have also hindered construction activity and house prices; European consumers are saving at record levels, while U.S. consumers are spending freely; Europe's growth is held back by factors such as higher taxation, burdensome regulation, and lack of investment in productive capital; Germany faces issues with complicated permissions processes, lack of skilled labor, and lagging infrastructure investment; European governments are trimming deficits and shifting away from pandemic support measures; Europe's growth is also affected by longer-term factors such as higher taxation and burdensome regulation; Europe needs to raise productivity and increase investment to catch up with the U.S.; European consumers' high level of precautionary savings is leading to low intentions for major purchases; Europe's growth is also hindered by factors such as higher taxation and burdensome regulation; Europe's growth is also hindered by factors such as higher taxation and burdensome regulation

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https://fortune.com/europe/2024/07/30/germany-remains-eurozone-troubled-economic-child-sets-back-europe-while-u-s-continues-to-lead-the-way/