German GDP contracts by 0.3 percent in 2023.

Due to high energy costs, rising interest rates, and high inflation, Germany's economy shrank by 0.3% last year, placing it among the world's worst-performing major economies. This economic downturn in Germany exacerbates the difficult start to the year for the nation, which has been affected by nationwide train strikes and unruly farmer protests.

January 15, 2024
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