Germany's economic contraction at the end of 2022 was more severe than estimated initially, latest data from Destatis showed, indicating that the biggest euro area economy significantly lost momentum at the end of last year and added to fears of a looming recession in the currency bloc.
Gross domestic product decreased 0.4 percent quarter-on-quarter, which was a more severe fall than the 0.2 percent estimated initially. In the third quarter, the economy had expanded 0.5 percent.
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by Jyotsna V
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