DeStatis: German GDP fell more than originally announced in Q4 2022

The gross domestic product (GDP) fell by 0.4% in the fourth quarter of 2022 on the third quarter of 2022 after adjustment for price, seasonal and calendar variations. The Federal Statistical Office (Destatis) reports that the GDP was by 0.2 percentage points lower than communicated in the first release of 30 January 2023

The downwards revision was driven by a 1% fall in consumer spending.

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