The German economy grew slightly at the beginning of 2024. The gross domestic product (GDP) rose by 0.2 percent in the first quarter compared to the previous quarter, as the Federal Statistical Office announced on Tuesday based on preliminary data.
In the fourth quarter of 2023, Europe’s largest economy shrank by a revised 0.5 (previously: -0.3) percent. Two negative quarters in a row are referred to as a technical recession.
Recommended editorial content
Here you will find external content selected by our editors to enrich the article with additional information for you. Here you can display or hide the external content with one click.
I agree that the external content can be displayed to me. This means that personal data can be transmitted to third-party platforms. You can find more information about this in the data protection settings. You can find these at the bottom of our page in the footer, so you can manage or revoke your settings at any time.
According to statisticians, growth at the beginning of the year was driven by increases in construction investment and exports.