German Economy Stagnates in Third Quarter - Germany's GDP Growth Volatile, Avoids Recession in Q3
Germany's economic growth has shown mixed signals in recent quarters. Initially, the second quarter reported a contraction of 0.3 percent, but this was later revised down to a 0.2 percent decline. The economy narrowly avoided a technical recession, with the third quarter showing no growth.
The German economy began the year with a 0.3 percent growth in the first quarter. However, it stalled in the third quarter, registering 0 percent growth. Despite this, compared to the same period last year, GDP in the third quarter was 0.3 percent higher after adjusting for price and calendar effects. The revision of the second quarter's GDP data was made by the Federal Statistical Office (Destatis), but the name of the chairperson responsible for this revision is not specified in the provided information.
Germany's economic growth has been volatile in recent quarters, with a contraction in the second quarter, a stall in the third, and a modest growth in the first. Despite the third quarter's stagnation, year-on-year growth remained positive.
