The German national statistics office said "multiple crises" affecting the economy had contributed to a 0.3% fall in gross domestic product (GDP) in 2023, compared with the previous year, as higher interest rates and elevated living costs took their toll.
"Despite recent price declines, prices remained high at all stages in the economic process and put a damper on economic growth," said Dr Ruth Brand, the president of the statistics office, in Berlin yesterday.
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