Germany’s Economy Contracted Less than Expected in 3Q

The German economy contracted a little less than expected in the third quarter of 2023, driven by lower household consumption, and revisions to previous quarters meant the economy avoided a recession previously reported last winter.

Germany’s gross domestic product shrank 0.1% from July to September compared with the previous quarter, adjusted for price, seasonal and calendar variations, according to preliminary data from the country’s statistics office released Monday.