The German economy contracted by 0.1% in Q3, marking a reversal from the upwardly revised 0.1% expansion recorded in the preceding quarter and surpassing market expectations of a 0.3% contraction, a preliminary estimate showed.
In Q3, the German economy contracted by 0.3% Y/Y.
Private consumer spending exerted downward pressure on GDP, driven by increasing interest rates and persistent inflation at elevated levels.
In contrast, investments in equipment experienced growth during this period. On an annual basis, GDP declined by 0.3% after remaining unchanged in the previous period, which was in contrast to market expectations of a 0.7% decrease.
ETFs: (EWG), (DBGR), (FGM)