A double decker bus passes the skyline with its dominating banking district in Frankfurt, Germany, November 8, 2023. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing Rights
BERLIN, Nov 24 (Reuters) – Germany’s economy shrank slightly in the third quarter compared with the previous three months, data from its statistics office showed on Friday.
The figure confirmed an initial estimate, published in late October, that saw Europe’s largest economy shrink by 0.1%.
“After the weak economic development seen in the first half of 2023, the German economy began the second half of the year with a slight drop in performance,” said Ruth Brand, president of the statistics office.
Germany has been among the weakest economies in Europe this year as high energy costs, weak global orders and higher interest rates have taken their toll.
In the second quarter, Germany’s economy had grown by 0.1% after…
