In June, Bulgaria’s services sector saw a monthly production increase of 0.6 percent, while Eurostat data showed a decline in the EU for the same period. Production in the Eurozone’s services sector dropped by 0.8 percent compared to May, with the overall EU figure falling by 0.9 percent. This follows May’s figures where services output in the Eurozone decreased by 0.1 percent, and the EU saw a slight rise of 0.2 percent.
Germany, in contrast, faces stagnant economic growth. Forecasts that previously predicted a 0.4 percent increase in gross domestic product for 2024 now expect zero growth. The Ifo Institute in Munich projects that Germany’s economy will grow by 1.5 percent in 2026. According to Timo Volmershauser, head of economic forecasts at Ifo, Germany is in a structural crisis, with insufficient investment, especially in the industrial sector, and stagnant productivity.
