Germany’s GDP contraction was finalized at -2.2% qoq in Q1, unrevised from initial estimate. That was the largest decline since the global financial and economic crisis of 2008/2009. It’s also the second worst since reunification.
Looking at some details, consumption expenditure dropped -1.0% yoy. Gross capital formation dropped -1.6% yoy. Domestic uses dropped -1.1% yoy. Exports dropped -3.2% yoy. Imports dropped -1.7% yoy