The German economy shrank by 0.4% in the fourth quarter of 2022 compared with the previous three months, the statistics office said on Friday.
Preliminary data from the office had pointed to a 0.2% quarter-on-quarter contraction adjusted for price and calendar effects. In the third quarter of 2022, gross domestic product saw slight growth of 0.5% compared to the three months prior.component, a falling manufacturing PMI, weak consumer confidence and a willingness to spend close to historical lows, all point to a contraction of the German economy once again in the first quarter, ING's global head of macro Carsten Brzeski said.
The worse-than-expected final result for the fourth quarter increases fears of a winter recession. A recession is commonly defined as two successive quarters of contraction.
DaxleMontagnard fin du Kali Yuga, les cigales ont assez chanté.
Uncle Sam drank your milkshake, Fritz.
y seguira cayendo :/
Such shocker. All that anti-russia sanctions are supposed to contract russia's GDP. Who could have guessed the sanctions could backfire?
results of listening to us state dept instead of your people