Germany’s Economy Contracts by 0.3% in 2023, Reflecting Ongoing Crisis: Federal Statistical Office
Germany’s Economy Contracts in 2023 Europe’s largest economy contracted by 0.3% year-on-year in 2023, according to the Federal Statistical Office of Germany. When adjusted for calendar purposes, the decline in economic output eases to 0.1%. Ruth Brand, president of the federal statistics office, stated that “the overall economic development in Germany stalled in 2023 in…