German 2023 preliminary GDP contracts 0.3% YoY, as expected

Germany’s preliminary Real GDP for 2023 contracted at an annual pace of 0.3%, as widely expected, the latest data published by the federal statistics authority Destatis showed Monday. 

Additional takeaways

Meanwhile, the German fourth-quarter (Q4) GDP in 2023 fell 0.3% compared with the previous quarter.

Measured as a percentage of nominal GDP, there was a 2.0% deficit ratio of general government for 2023.

German general government budget recorded financial deficit of EUR82.7 billion at end of 2023.