Germany's economy contracted at a faster-than-expected pace in the third quarter, marking the first decline since the first three months of 2015 and the worst fall since early 2013, preliminary figures from the Federal Statistical Office showed on Wednesday.
Gross domestic product declined a seasonally and calendar-adjusted 0.2 percent in the three months to September, after expanding 0.5 percent in the second quarter. Economists had forecast a 0.1 percent drop.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.