The German economy contracted more than expected as new restrictions imposed at the end of the year dampened household spending, data released by Destatis revealed on Friday.Gross domestic product fell 0.7 percent sequentially in the fourth quarter, reversing the 1.7 percent expansion in the third quarter. Economists had forecast the economy to contract 0.3 percent.On a yearly basis, GDP grew 1.4 ...
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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.