German Economy Contracts in Q3, Avoids Winter Recession
TL;DR Summary
Germany's gross domestic product (GDP) shrank by 0.1% in the third quarter, increasing the risk of a recession in Europe's largest economy. The decline was driven by a fall in consumer spending, while investment by companies into machinery and equipment made a positive contribution. This data is concerning for the entire eurozone as Germany is its largest economy.
- Europe’s biggest economy shrank in the third quarter CNN
- German economy shrinks slightly in Q3 Reuters
- German Economy Shrank in Third Quarter Amid New Recession Threat Bloomberg
- German Preliminary GDP contracts 0.1% in Q3 vs. -0.3% expected FXStreet
- German economy shrinking but winter recession avoided; UK remortgaging lowest since 1999 – business live The Guardian
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