2022-11-25 07:26:57

Germany's Q3 GDP growth revised higher

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Investing.com
By Geoffrey Smith/Investing Com

By Geoffrey Smith

Investing.com -- Germany's economy grew by a shade more than initially thought in the third quarter, according to revised data published Friday.

Federal Statistics Office Destatis said gross domestic product expanded by 0.4%, rather than the 0.3% reported in its first reading. That left GDP up 1.2% from a year earlier, rather than the 1.1% in the first reading.

That is still a sharp slowdown from 1.7% in the second quarter, when the economy still had momentum from its post-pandemic reopening. Analysts still expect Europe's largest economy to slide into recession next year, as the lagged effect of this year's energy price shock hits businesses and consumers alike.

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