German GDP fell 2.3 percent in the first quarter

Germany’s gross domestic product (GDP) fell 2.3 percent in the first quarter of this year from a year earlier – the federal statistical office (Destatis) announced as final data.

Compared to the last quarter of last year, German GDP decreased by 2.2 percent in January-March. Such significant decline was last recorded in the first quarter of 2009, when the performance of the German economy was 4.7 percent lower than in the previous three months. (MTI)