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1/28, 10:03 AM (Source: TeleTrader)
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German GDP misses mark, falls 0.7% in Q4

Germany's gross domestic product (GDP) adjusted for price, seasonal and calendar variations slid by 0.7% in the fourth quarter of 2021 in comparison to the previous three-month period, the country's Federal Statistical Office Destatis said in a preliminary report released on Friday.

Adjusted for price, the GDP increased by 1.4% on an annual basis in the fourth trimester. For the entire 2021, the German economy expanded by 2.8%.

"The recovery of the German economy was halted by the fourth coronavirus wave and renewed tightening of the virus containment measures at the end of the year," the report explained.

Baha Breaking News (BBN) / BU