Germanys economy unexpectedly shrank 0.2% in the fourth quarter of 2022, heightening the prospects of a recession in Europe this year. Germany’s gross domestic product
Germanys economy unexpectedly shrank 0.2% in the fourth quarter of 2022, heightening the prospects of a recession in Europe this year. Germany’s gross domestic product (GDP) contracted in the fourth quarter of 2022 for the first time since the first quarter of 2021 largely due to a decline in consumer spending, said the country’s Federal Statistical Office. Previously, the German economy had grown 0.5% in the third quarter of 2022 and 0.1% in the second quarter of last year.Germany’s annual inflation rate declined to an annualized 8.6% in December from a peak of 10.4% in October. However…
