Germany recorded a decline of 0.3% in its GDP in the fourth quarter of 2023, according to an estimate published Tuesday which confirms the weakness of the largest European economy whose industry and exports are slowing down.
“After stagnation in the German economy in the first three quarters, economic output declined in the fourth quarter of 2023
,” summarized the National Statistical Office Destatis.
Over the whole of 2023, the German economy also contracted by 0.3%, Destatis announced earlier in January.