Salem Radio Network News Monday, March 27, 2023


Germany’s economy shrank by 0.2% in the 4th quarter


Official figures show that Germany’s economy shrank by 0.2% in the fourth quarter compared with the previous three-month period

The performance by Europe’s biggest economy was worse than expected. Germany’s Federal Statistical Office says gross domestic product shrank for the first time since the first quarter of 2021. That was largely due to a decline in consumer spending, which had supported the economy in the first nine months of 2022. The drop followed GDP growth of 0.5% in the third quarter and 0.1% in the second quarter.


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Michael Ramirez
Sun, Mar 26, 2023