German economy shrinks slightly in Q3

By Agence France-Presse

Oct 31, 2023 12:00 am

FRANKFURT: German output shrank slightly in the third quarter, official data published on Monday showed, as high interest rates, elevated energy costs and a manufacturing slowdown continued to batter Europe's largest economy.

The economy contracted by 0.1 percent quarter-on-quarter, federal statistics agency Destatis said in preliminary figures, dragged down by lower household spending.

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