Recession in Germany: Economy down by 0.3 % in 2023

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The German economy shrank in 2023. That's according to fresh government data. For the full year, growth came in at a negative 0.3 percent. It's mainly due to rising energy prices and high interest rates. Also, cooling foreign demand for machines and other products took their toll, as Germany's economy heavily depends on exports.

0:00 intro
0:23 Talk with Jörg Krämer, Commerzbank Chief Economist
3:20 Studio talk with DW business editor Steven Beardsley

#Germany #economy #recession

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Category: News and politics
Tags: DW News

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