German economic growth has stalled – and is expected to proceed at a sluggish pace in the coming years. According to the financial market experts surveyed by ZEW, lower but stable annual growth rates of between 2.0 and 2.5 per cent are anticipated in 2022 to 2024. Several factors will act as a drag on German GDP, including high energy prices, raw material shortages, and supply chain disruptions – as well as the new geopolitical situation that has arisen with Russia's invasion of Ukraine. The majority of experts have made downward revisions to their GDP growth forecasts for 2022, 2023 and beyond. With a view to the next five years, individual sectors of the German economy will be affected to varying degrees by geopolitical developments, with the greatest impacts being suffered by vehicle manufacturing, chemicals and pharmaceuticals, steel and non-ferrous metals, and mechanical engineering.