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Gross domestic product stagnant in 1st quarter of 2023
The gross domestic product (GDP) was unchanged (0.0%) in the first quarter of 2023 compared with the fourth quarter of 2022 after adjustment for price, seasonal and calendar variations, after decreasing at the end of 2022 (by a revised -0.5% in the fourth quarter year on year; before: -0.4%). The final consumption expenditure of both households and government declined at the beginning of 2023, according to the Federal Statistical Office (Destatis). Positive contributions, in contrast, came from capital formation and exports.GDP in the first quarter of 2023 was up a price adjusted 0.2% compared with the first quarter ... (full story)
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