Germany’s economy shrank by 2.2 percent in the first quarter of this year compared to the previous quarter. The German Federal Statistical Office announced this on the basis of provisional figures.
The figure matches the average expectation of economists. In the fourth quarter of 2019, the gross domestic product of the largest economy in Europe shrank by a revised 0.1 percent. An unchanged level was previously reported.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.