The German economy missed slipping into a technical recession by the smallest of margins after the country’s Q3 GDP was upgraded to flat from -0.1%. The first look at German Q4 GDP came in line with market forecasts at -0.3%.
According to The Federal Statistical Office (Destatis),
‘The gross domestic product (GDP) fell by 0.3% in the fourth quarter of 2023 compared with the third quarter of 2023 after adjustment for price, seasonal and calendar variations. After the German economy more or less stagnated in the first three quarters, economic performance decreased in the fourth quarter of 2023. Compared with the previous quarter, there was a marked decline, in particular, in gross fixed capital formation in construction and in machinery and equipment after price, seasonal and calendar adjustment.’
