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German economy contracts as Ukraine war bites

Hopes grow an energy crisis is easing

30 January, 17:56
(ANSA-AFP) - FRANKFURT, JAN 30 - Germany's economy unexpectedly shrank at the end of 2022 due to the fallout from the war in Ukraine, official data showed Monday, even as hopes grow an energy crisis is easing. Europe's top economy contracted 0.2 percent in the October to December period compared to the previous quarter, according to preliminary figures from statistics authority Destatis. Analysts from financial data firm FactSet had been expecting zero growth. For the whole of 2022, the German economy grew 1.8 percent, said Destatis, revising down an earlier figure of 1.9 percent. (ANSA-AFP).

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