German economy expands 4% in Q1

ISTANBUL

Germany's gross domestic product (GDP) increased by 4% in the first quarter of 2022 on an annual basis, official data showed on Friday.

According to Germany's Federal Statistical Office (Destatis), the GDP in the first quarter was 0.9% lower than in the fourth quarter of 2019, the quarter before the COVID-19 crisis.

"Economic performance thus increased slightly in the first quarter of 2022, following the recovery of the German economy last summer and the decline at the end of 2021.

"Due to the continuing COVID-19 crisis and the war in Ukraine, these results are subject to larger uncertainties than usual," it said.

The GDP was up by 0.2% in the first quarter of 2022 versus the previous quarter, the Destatis data showed.

The country's GDP totaled €914.5 billion ($1 trillion) in the first quarter of 2022.

ISTANBUL

Germany's gross domestic product (GDP) increased by 4% in the first quarter of 2022 on an annual basis, official data showed on Friday.

According to Germany's Federal Statistical Office (Destatis), the GDP in the first quarter was 0.9% lower than in the fourth quarter of 2019, the quarter before the COVID-19 crisis.

"Economic performance thus increased slightly in the first quarter of 2022, following the recovery of the German economy last summer and the decline at the end of 2021.

"Due to the continuing COVID-19 crisis and the war in Ukraine, these results are subject to larger uncertainties than usual," it said.

The GDP was up by 0.2% in the first quarter of 2022 versus the previous quarter, the Destatis data showed.

The country's GDP totaled €914.5 billion ($1 trillion) in the first quarter of 2022.