GERMAN ECONOMY DODGES RECESSION DESPITE SHRINKING 0.3% IN 2023

The German economy contracted in 2023, due to persistent inflation, high energy prices and weak foreign demand, but it avoided a recession at the end of the year. Gross domestic product (GDP) shrank by 0.3% over the full-year 2023, the Federal Statistics Office said on Monday."Overall economic development faltered in Germany in 2023 in an environment that continues to be marked by multiple crises", said Ruth Brand, president of the statistics office, on Monday in Berlin.

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