Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out major bombings in the Gaza Strip, the most violent since October 7
Yemeni Armed Forces spokesperson Brigadier General Yahya Saree: The missile force carried out a major operation using the Palestine 2 ballistic hypersonic missile, hitting several targets in occupied Yafa.
Sirens sound in large areas of occupied Palestine after a missile launch from Yemen was detected
Al Mayadeen's correspondent: 14 martyrs arrive at al-Shifa Hospital following Israeli massacre of al-Sultan Family north of Gaza.

German economy faces a crunch with no positive outlook this year

  • By Al Mayadeen English
  • Source: Agencies
  • 30 Jan 2023 15:48
3 Min Read

Although the office doesn't break down the GDP sector, it did confirm that private consumer spending was a major factor in the contraction.

  • x
  • Demonstrators protesting in Berlin against the cost-of-living conditions in November 2022 (AFP)
    Demonstrators protesting in Berlin against the cost-of-living conditions in November 2022 (AFP)

The German economy is in a pickle - and it's safe to say, literally.  

After contracting in the fourth quarter of 2022, its GDP dropped 0.2% between the third and fourth quarter, which is a sharp drop from the 0.5% increase recorded in the previous three-month timeframe.

The statistics office, Destatis, stated on Monday: “After the German economy held up well in the first three quarters despite difficult conditions, economic output decreased slightly in the fourth quarter.” 

Although the office didn't break down the GDP sector, it confirmed that private consumer spending was a main factor in the contraction, as it added that output increased 1.1% as opposed to 2021 and less than the 1.3% expected by financial analysts.

The inflation in Germany will possibly remain high until the end of 2024 as the country's companies spill their rising costs onto customers, the government's senior economic aide warns. 

Read next: German inflation to remain high until end of 2024

Related News

Germany in talks with Taliban on large-scale Afghan deportations

Germany pledged €9Bln a year for Kiev, but Pistorius wants far more

Very slow growth this year 

The Eurozone's biggest economy has been one of the hardest economies hit among other European countries due to increasing gas prices, due to its large manufacturing production.

Franziska Palmas, a senior Europe economist at Capital Economics, explained that the German economy “will at best flatline in the first half of 2023 and only grow very slowly thereafter,” as interest rates skyrocket alongside cost-of-living. 

Read more: Germany to face 5Mln understaffing by 2030: Union chief 

Looking at other EU nations, Sweden’s economy diminished 0.6% in the last quarter of 2022 according to figures released on Monday. 

Last week, Spain demonstrated a 0.2% expansion over the same period. Economists do not expect any change in the fourth quarter output, which is due to be released on Tuesday. 

In light of these circumstances, Berlin Brandenburg Airport (BER) ground services employees, under the United Services Union, ver.di (Vereinte Dienstleistungsgewerkschaft), staged a walkout last week demanding a pay raise, which left all passenger flights grounded until further notice.

According to airport authorities, approximately 300 flights, which carry around 35,000 passengers to and from BER, have been canceled. It is worth noting that BER is one of Germany's busiest airport. 

Earlier, ver.di called for a "warning strike." It demanded a 10.5% raise in base wages, with a minimum of 500 euros per month over a 12-month period.

  • Germany
  • European Union

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Israeli police and rescue teams respond at the scene of a shooting attack where several people killed and injured in Jerusalem, Monday, Sept. 8, 2025 (AP)

Al-Quds shooting: 7 settlers killed, several critically injured

  • Politics
  • 8 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

Pro-'Israel' far-right Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
People protest against Israeli Prime Minister Benjamin Netanyahu during the 79th session of the United Nations General Assembly, in New York, on Friday, September 27, 2024 (AP)
Politics

'Israel' stops unfunded diplomacy ahead of UN, October 7 memorial

An Israeli Air Force fighter jet releases flares over the Gaza Strip, is seen from southern occupied Palestine, Thursday, May 8, 2025 (AP)
Politics

OIC summit draft: Israeli attack on Qatar risks normalization

People shout slogans and hold Palestinian flags while protesting during the twenty-first stage of La Vuelta cycling race from Alalpardo to Madrid, Spain, Sunday, Sept. 14, 2025. (AP)
Sports

Pro-Palestine protests force abrupt end to Vuelta a España finale

Damage is seen after an Israeli strike targeted a compound that hosted Hamas' political leadership in Doha, Qatar, on Wednesday, September 10, 2025 (AP)
Politics

Israeli regime faces growing isolation over Qatar strike: Reports

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS