Germany’s GDP (price, seasonally, and calendar adjusted) shrank by -0.1% qoq in Q3. This decline, however, was slightly less severe than the anticipated -0.2% qoq contraction. This contraction comes in the wake of a modest 0.1% growth in Q2 and a state of stagnation in Q1.
On a year-over-year basis, the picture appears more pronounced. GDP was down by -0.8% (price adjusted) and down by -0.3% (price and calendar adjusted) compared to the same quarter a year earlier.
Destatis said a key factor contributing to the contraction was decrease in household final consumption expenditure. There were positive contributions from gross fixed capital formation in machinery and equipment.
 shrank by -0.1% qoq in Q3. This decline, however, was slightly less severe than the anticipated -0.2% qoq contraction. This contraction comes in the wake of a modest 0.1% growth in Q2 and a state of stagnation in Q1.){kind=link}