Germany’s Economy Shrank in 3Q as Recession Looms

Germany’s economy contracted 0.1% from July to September, confirming prior estimates, as the country languishes in a likely recession, according to data from the country’s statistics office Destatis released Friday.

The fall in output in Europe’s largest economy matched expectations of economists polled by The Wall Street Journal, as well as the preliminary data published in October. GDP contracted 0.4% on year in 3Q, on a price and calendar adjusted basis.