{"id":135022,"date":"2023-11-27T11:39:14","date_gmt":"2023-11-27T11:39:14","guid":{"rendered":"https:\/\/myfintale.com\/?p=135022"},"modified":"2023-11-27T11:39:14","modified_gmt":"2023-11-27T11:39:14","slug":"german-economy-shrinks-0-1-as-estimated","status":"publish","type":"post","link":"https:\/\/myfintale.com\/economy\/german-economy-shrinks-0-1-as-estimated\/","title":{"rendered":"German Economy Shrinks 0.1% As Estimated"},"content":{"rendered":"

Germany’s economy<\/span> contracted slightly, as initially estimated, in the third quarter with the household consumption that used to be the pillar of growth, acting as a drag. <\/p>\n

Confirming the initial figures, detailed data from the statistical office Destatis showed on Friday that gross domestic product shrank 0.1 percent quarterly.<\/p>\n

Economic performance was virtually stagnant in the first two quarters of the year with flat growth in the first quarter and a 0.1 percent rise in the second quarter. <\/p>\n

Household spending dropped 0.3 percent after a 0.2 percent rebound in the preceding period. Meanwhile, government spending grew for the first time in more than a year, up 0.2 percent. <\/p>\n

Positive contributions came from gross fixed capital formation. Investment in machinery and equipment rose 1.1 percent and that in construction gained 0.4 percent. <\/p>\n

Exports of goods and services decreased 0.8 percent. At the same time, imports declined more markedly by 1.3 percent. The net exports rose 0.9 percent. <\/p>\n

The calendar-adjusted GDP contracted 0.4 percent annually after rising 0.1 percent in the second quarter. This measure was initially estimated to have fallen 0.3 percent. <\/p>\n

The annual decrease in price-adjusted GDP doubled to 0.8 percent from 0.4 percent.<\/p>\n

“Today’s data will do very little to end the debate on whether or not the German economy is again the sick man of Europe,” ING economist Carsten Brzeski said. <\/p>\n

“In any case, the German economy has become one of the growth laggards of the eurozone.”<\/p>\n

The Bundesbank forecast the German economy to shrink again in the fourth quarter before undergoing a slight increase in economic output in the first quarter of 2024. <\/p>\n

The European Commission had projected Germany to shrink 0.3 percent in 2023, before rebounding 0.8 percent next year and 1.2 percent in 2025. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Germany’s economy contracted slightly, as initially estimated, in the third quarter with the household consumption that used to be the pillar of growth, acting as […]<\/a><\/p>\n<\/div>","protected":false},"author":3,"featured_media":135021,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"\nGerman Economy Shrinks 0.1% As Estimated - my finance tale<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myfintale.com\/economy\/german-economy-shrinks-0-1-as-estimated\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"German Economy Shrinks 0.1% As Estimated - my finance tale\" \/>\n<meta property=\"og:description\" content=\"Germany’s economy contracted slightly, as initially estimated, in the third quarter with the household consumption that used to be the pillar of growth, acting as [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/myfintale.com\/economy\/german-economy-shrinks-0-1-as-estimated\/\" \/>\n<meta property=\"og:site_name\" content=\"my finance tale\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-27T11:39:14+00:00\" \/>\n<meta name=\"author\" content=\"Vogel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/myfintale.com\/wp-content\/uploads\/2023\/11\/German-Economy-Shrinks-0.1-As-Estimated-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Vogel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/myfintale.com\/economy\/german-economy-shrinks-0-1-as-estimated\/\",\"url\":\"https:\/\/myfintale.com\/economy\/german-economy-shrinks-0-1-as-estimated\/\",\"name\":\"German Economy Shrinks 0.1% As Estimated - 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