TELETRADER News
1/28, 10:03 AM
(Source: TeleTrader)
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.