Published 6 months ago

Germany’s Economy Shrank Last Year for First Time Since Pandemic

Germany's economy contracted by 0.3% in 2023, influenced by persistent inflation, high energy prices, and weak foreign demand.
The German economy avoided a recession at the end of the year, although it shrank by 0.3% in the fourth quarter.
Despite the decline in economic performance, the construction sector saw modest growth of 0.2%, and net external demand had a positive impact on GDP.

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The Guardian

Germany on track for two-year recession as economy shrinks in 2023

‘Multiple crises’ contributed to 0.3% fall in GDP, says national statistics office

6 months ago·London, United Kingdom

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Reuters

Headline Unavailable

6 months ago·United Kingdom

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abc News

Europe's biggest economy shrank last year as Germany struggles with multiple crises

Germany’s economy shrank 0.3% last year as Europe’s former powerhouse struggled with more expensive energy, higher interest rates, a lack of skilled labor and a homegrown budget crisis

6 months ago·United States

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The Star Kuala Lumpur

German economy shrinks 0.3 pct in 2023: Destatis

BERLIN, Jan. 15 (Xinhua) -- Germany slipped into recession in 2023, the country's Federal Statistical Office (Destatis) said on Monday. Based on initial calculations, Destatis said that Germany's gross domestic product (GDP) fell by 0.3 percent year-on-year, with global crises weighing on the economy. Read full story

6 months ago·Malaysia

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CNN

Europe’s biggest economy shrank last year. The outlook isn’t much better

Germany’s economy shrank last year for the first time since the onset of the Covid-19 pandemic, official data showed Monday, increasing the risk of an economic contraction in the wider euro area.

6 months ago·Atlanta, United States

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KRDO

Europe's biggest economy shrank last year as Germany struggles with multiple crises

FRANKFURT, Germany (AP) — Germany’s economy shrank 0.3% last year as Europe’s former powerhouse struggled with more expensive energy, higher interest rates, a lack of skilled labor and a homegrown budget crisis. Europe’s largest economy has been mired in stagnation since the last months of 2022 amid those multiple challenges. The International Monetary Fund expected Germany to be the worst-performing major developed economy last year, a major tu…

6 months ago·Colorado Springs, United States

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