German Economy Contracted 0.3% in 4rd Quarter in 2023

23 February 2024

The gross domestic product (GDP) fell by 0.3% in the 4th quarter of 2023 compared with the 3rd quarter of 2023 after adjustment for price, seasonal and calendar variations.

GDP in the 4th quarter of 2023 was down a price adjusted 0.4% compared with the 4th quarter of 2022. After price and calendar adjustment, the decrease was smaller (-0.2%) as there was one working day less than a year earlier.

For the whole year of 2023, the most recent calculations have confirmed the year-on-year decline in economic performance of 0.3% (calendar adjusted: -0.1%).

Source: Destatis
Post by: Republic of Türkiye Ministry of Trade