Germany’s preliminary Gross Domestic Product (GDP) expanded by 1.9% on an annualized basis in 2022 when compared to the +1.8% market consensus and +2.6% previous, Statistisches Bundesamt Deutschland reported on Friday.
German economy likely stagnated in the fourth quarter of 2022.
Measured as a percentage of nominal GDP, there was a 2.6% deficit ratio of the general government for 2022.
German government budget recorded a financial deficit of EUR117.6 billion at end of 2022.
Clear 0.0% for fourth quarter, though all the data is not yet in.
Statistical overhang for 2023 at 0.2%.
The Euro is picking up fresh bids on the upbeat German data, with EUR/USD adding 0.07% on the day to 1.0854, at the press time.
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