Germany's gross domestic product (GDP) shrank by 0.3% in 2023, according to preliminary figures from the Federal Statistical Office, confirming that Europe's largest economy spent the year in a recession. The agency estimated on Monday that the economy also had a poor finish to the year and shrank by 0.3% in the fourth quarter. "Overall economic development faltered in Germany in 2023 in an environment that continues to be marked by multiple crises," Ruth Brand, the head of the agency, said on M
FRANKFURT, Germany Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants. Economic output crept 0.1 percent higher in the last three months of 2022 from the previous…
Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants. Economic output crept 0.1% higher in the last three months of 2022 from the previous quarter, European Union statistics agency Eurostat reported…
Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants.