Germany’s gross domestic product (GDP) decreased by 0.3% in 2023 compared to the previous year. After adjusting for calendar effects, the decline was 0.1%. Multiple crises, high prices, unfavorable financing conditions, and weak demand contributed to the economic slowdown. However, the GDP in 2023 was still 0.7% higher than in 2019 before the Covid-19 pandemic.

By Lisa Luckas

Lisa Luckas is a Sr. Business News Editor at Nobot.News.

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