Key Points
fell in October, official data published Thursday showed, the fifth consecutive drop as Europe's largest economy laboured through 2023...
The decline was also steeper than the 0.15-percent dip forecast by analysts polled by financial data firm FactSet...
"This week's data confirm that it will not be easy for the German economy to gain fresh growth momentum," said ING analyst Carsten Brzeski...
"The economy seems to be on track for another quarter of contraction," Brzeski said.. Elevated energy prices in the wake of the Russian invasion of Ukraine in February 2022 have weighed heavily on industry...
The recent woes looked set to show up in the end-of-year data, with the German government forecasting the economy to contract by 0.4 percent over the whole of 2023..
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