Economy shrinks by 0.4 percent in Saxony in 2024

The economy in Saxony shrank more than the national average last year. Gross domestic product (GDP) fell by 0.4 percent compared to 2023, adjusted for price, according to the State Statistical Office based on preliminary figures.

According to the data, the real losses in Saxony were particularly large in the construction industry, at minus 3.6 percent. Growth impetus came primarily from the public and other services, education and health sectors, which grew by 1.3 percent.

Per capita GDP in Saxony reached a value of 39,667 euros. This corresponded to just 78 percent of the result for Germany as a whole (50,819 per person).