The German economy avoided recession in the first quarter, preliminary data from Destatis showed on Tuesday. Gross domestic product grew more-than-expected 0.
The German economy likely entered a recession in the first quarter, Bundesbank said in its monthly report on Monday. After a 0.3 percent economic contraction in the fourth quarter, real gross domestic product could decline slightly again in the first quarter, the bank observed.
The German economy contracted in the whole year of 2023, Destatis reported Monday. Gross domestic product shrank 0.3 percent sequentially, in contrast to the 1.
Germany's economy contracted slightly, as initially estimated, in the third quarter with the household consumption that used to be the pillar of growth, acting as a drag.