German economy unexpectedly contracts in Q4

[ad_1]

Indicator is a sign that Europe’s largest economy may be slipping into recession as a result of the war in Ukraine. Germany’s economy unexpectedly slumped in the fourth quarter, according to data released on Monday, a sign that Europe’s biggest economy may be slipping into recession as a result of the war in Ukraine. Gross domestic product contracted 0.2% from the previous quarter in adjusted terms, the federal statistics office said. A Reuters poll of analysts showed expectations of stagnation. In the previous quarter, the German economy grew by 0.5% compared to the previous quarter. The fall in the fourth quarter means that a recession – commonly defined as two successive quarters of contraction – has become more likely, as many experts predict the economy will shrink in the first quarter of 2023 as well. its economic forecast for 2023 and now predicts GDP growth of 0.2%, up from a 0.4% drop before.

[ad_2]

Source link