Frankfurt Skyline at dusk in November days.
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The German economy decreased by 0.2% in the quarter in three months that ended in December, according to preliminary data published on Thursday by the German Office for Statistics.
The picture is adapted for the price, calendar and seasonal variations.
The analysts surveyed by Reuters expected that the gross domestic product (GDP) would fall by 0.1%.
An early first reading GDP Germany based on the data available at the time, he showed that GDP dipped by 0.1% when adapted for prices, seasonal and calendar variations in three months until the end of December.
Data on Thursday are compared to GDP increase in Earth by 0.1% in the third quarter last year. The German economic effect has long been slow, and the quarterly readings of GDP is mostly hovering around a straight line in the last two years. The economy, however, managed to avoid technical recession.
On an annual basis, German economy contracted Both in 2023 and 2024, for 0.3%and 0.2%.
Some break is expected in 2025, with German government on Wednesday Revealing its 0.3% growth forecast for the year – it is still significant audit downward from the previous growth assessment of 1.1%.
“The diagnosis is serious,” said Robert Habeck, Minister of Economy and Climate, during a press conference on Wednesday, according to a CNBC translation.
He added that the German economy was stagnant for a long time. He pointed to the inner and global political insecurity as the factors that led to the expenses, adding that the departing government was unable to fully implement his growth plans because his term ended early.
Federal elections in Germany are scheduled for February 23, which is earlier than originally planned due to the breakup of the ruling coalition of the country late last year.
Habeck also said there are structural questions that strives for the German economy, Rehing comment Last week, Finance Minister Jörg Kukies made.
“The structural weaknesses of our economy have to be resolved,” Kukies told CNBC. “It is really important that we go on the path of economic growth.”
This is news of the news, make sure there are updates.
