German GDP decreased by 3.4 percent

By: Trademagazin editor Date: 2021. 05. 26. 11:12

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Germany’s gross domestic product (GDP) fell 3.4 percent in the first quarter from a year before and 1.8 percent from the previous three months, the Federal Statistical Office (Destatis) announced on Tuesday, according to revised data.

At the end of April, Destatis reported at least a small decrease of 3.3 percent year-on-year and 1.7 percent quarter-on-quarter as non-final data.

The performance of the European Union’s largest economy has weakened due to the second wave of the coronavirus pandemic that unfolded last autumn and the third wave that began earlier this year. (MTI)