The drop in activity is less significant than expected according to a first official estimate.
The German economy contracted less than expected in the third quarter compared to the previous quarter, according to a first official estimate published on Monday.
The gross domestic product (GDP) of the euro zone’s largest economy fell 0.1%, while economists polled by Reuters expected a fall of 0.3%.
Domestic consumption has declined under the influence of high inflation that is eroding household purchasing power.
Destatis revised the figures from previous quarters upwards and German GDP finally grew by 0.1% in the second quarter, after zero growth in the first.
>> More information coming soon to BFM Business in a few moments. Also watch BFM Business live on video and follow us On twitter.
Source: BFM TV
