FOREX TradingCharts.com

Financial News: German GDP Contracts As Estimated In Q4

German GDP Contracts As Estimated In Q4

02/23/2024 - 02:26:00 (RTTNews)

(RTTNews) - The German economy contracted as estimated in the fourth quarter on weaker investment, revised data from Destatis showed on Friday.

Gross domestic product slid 0.3 percent sequentially after stagnating in the third quarter. The statistical office confirmed the preliminary estimate published on January 30.

Data showed that household spending gained 0.2 percent and government consumption moved up 0.3 percent. Meanwhile, gross fixed capital formation slid 1.9 percent.

Exports decreased 1.6 percent. At the same time, the decline in imports was somewhat larger, at -1.7 percent. Subdued foreign demand, ongoing geopolitical tensions as well as high energy prices contributed the weakness in trade in goods, Destatis said.

Calendar-adjusted GDP dropped 0.2 percent on year, as estimated, following a 0.3 percent decrease in the third quarter.

Price-adjusted GDP slid 0.4 percent annually, slower than the 0.7 percent contraction in the preceding period. The price-adjusted rate also matched estimate.

"The German economy ended 2023 in negative territory," President of the Federal Statistical Office Ruth Brand said.

"In the final quarter, declining investment had a dampening effect on economic activity, while consumption increased slightly," Brand added.

For the whole year of 2023, GDP was down 0.3 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Norway Trade Surplus Shrinks In March (01 hr(s), 18 min(s), 30 sec(s) ago)
(RTTNews) - Norway's foreign trade surplus decreased in March from a year ago amid a sharp fal ...Full Story»

China Keeps Medium-Term Lending Facility Rate Unchanged (02 hr(s), 07 min(s), 30 sec(s) ago)
(RTTNews) - China left its medium-term lending facility rate unchanged on Monday as the central ba ...Full Story»

India Wholesale Price Inflation Rises To 0.53% (02 hr(s), 19 min(s), 30 sec(s) ago)
(RTTNews) - India's wholesale prices increased for the fifth straight month in March, and at t ...Full Story»

Finland Inflation Slows To 2.2%, Lowest In 31 Months (03 hr(s), 08 min(s), 30 sec(s) ago)
(RTTNews) - Finland's consumer price inflation moderated further in March to the lowest level ...Full Story»

European Economic News Preview: Eurozone Industrial Output Data Due (04 hr(s), 12 min(s), 30 sec(s) ago)
(RTTNews) - Industrial production from the euro area is due on Monday, headlining a very light day ...Full Story»

Japan Core Machine Orders Surge 7.7% In February (07 min(s), 30 sec(s) ago)
(RTTNews) - The value of core machine orders in Japan jumped by a seasonally adjusted 7.7 percent ...Full Story»

New Zealand Services Index Slumps In March - BusinessNZ (06 min(s), 30 sec(s) ago)
(RTTNews) - The services sector in New Zealand fell into contraction territory in March, the lates ...Full Story»

Japan Core Machinery Order Data Due On Monday (11 min(s), 30 sec(s) ago)
(RTTNews) - Japan will on Monday release February figures for core machinery orders, highlighting ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Norway Trade Surplus Shrinks In March

04/15/2024 - 04:31 AM (RTTNews)
(RTTNews) - Norway's foreign trade surplus decreased in March from a year ago amid a sharp fal ...Full Story>>

China Keeps Medium-Term Lending Facility Rate Unchanged

04/15/2024 - 03:42 AM (RTTNews)
(RTTNews) - China left its medium-term lending facility rate unchanged on Monday as the central ba ...Full Story>>

India Wholesale Price Inflation Rises To 0.53%

04/15/2024 - 03:30 AM (RTTNews)
(RTTNews) - India's wholesale prices increased for the fifth straight month in March, and at t ...Full Story>>

Finland Inflation Slows To 2.2%, Lowest In 31 Months

04/15/2024 - 02:41 AM (RTTNews)
(RTTNews) - Finland's consumer price inflation moderated further in March to the lowest level ...Full Story>>

European Economic News Preview: Eurozone Industrial Output Data Due

04/15/2024 - 01:37 AM (RTTNews)
(RTTNews) - Industrial production from the euro area is due on Monday, headlining a very light day ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.