Ekonomické zprávy

German economy shrank less than forecast in the 4th quarter

Data published by the Federal Statistical Office (Destatis) showed that in the 4th quarter, German GDP decreased by 0.3% after an increase by 1.7% in the 3rd quarter. Economists had expected a 0.7% drop in GDP. A preliminary estimate published on January 28 suggested a 0.7% decline in GDP. In annual terms, German GDP growth slowed to 1.8% from 2.9% in the 3rd quarter. Economists had expected an increase in GDP by 1.4% per annum. The slowdown in growth was due to delivery bottlenecks and the deterioration of the Covid-19 situation.

Destatis reported that household spending on final consumption fell by 1.8% in quarterly terms, while government spending on final consumption increased by 1.0%. Meanwhile, gross fixed capital accumulation in machinery and equipment increased by 0.9% compared to the third quarter of 2021. Exports of goods and services grew by 4.8% in quarterly terms, while total imports increased by 5.1%.

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