Germany’s gross domestic product shrank in the third quarter of 2018, the first quarter-on-quarter decline since early 2015, which analysts said should be a wake-up call for Europe’s largest economy.
The Federal Statistical Office reported Wednesday that GDP shrank by 0.2 percent in the third quarter, in figures adjusted for price, seasonal and calendar variations, largely due to foreign trade developments.
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The office said exports were down and imports were up in the third quarter, while there were mixed signals from domestic demand.
The drop followed increases of 0.5 percent in the second quarter and 0.4 percent in the first.
ING economist Carsten Brzeski says signs point to a rebound, but that the data is “another wake-up call that political stability and strong growth are by no means a given.”
