The German Statistics Office reported that the German economy contracted in the second quarter of this year, with a contraction of 0.2% on an annual basis. The data indicated that there was a slowdown in growth, amounting to 0.4% in the last quarter of 2022 and 0.1% in the first quarter of this year, and with regard to consumption, household consumption remained at the same level during the second quarter compared to the first quarter, while government spending witnessed growth. slightly by 0.1%. The German central bank’s monthly report indicated that economic growth is expected to remain roughly flat in the third quarter of the year.
2023-08-27 00:28:50
#German #economy #experiencing #downturn #quarter #year
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