Germany: GDP records sharpest contraction since Q4 2022 in Q4
GDP in the final quarter, with GDP contracting 0.3% on a seasonally adjusted quarter-on-quarter basis according to a preliminary estimate (Q3: 0.0% s.a. qoq). Q4’s reading marked the worst reading since Q4 2022. On an annual basis, economic activity declined 0.4% in Q4, from the previous quarter’s 0.7% fall.
According to the statistical service, there was a marked decline in fixed investment in construction plus machinery and equipment compared to the prior quarter. A detailed breakdown will be supplied on 23 February.