Germany’s gross domestic product (GDP) adjusted for price, season and calendar declined by 0.2% in the fourth quarter of 2022 compared to the previous three-month period, slightly more than analysts predicted, the country's statistical office Destatis said in a preliminary estimate on Monday.
The document estimated the fall would come following a drop in private consumer spending, which, as it put, "supported the German economy in the course of the year to date" and now came in lower than in the third quarter.
Adjusted for price, the GDP is projected to have grown by 0.5% compared to the same quarter in 2021. The document also saw the economic output going up by 1.8% in 2022.
