Bundesbank report shows Germany’s economy continued to slump in third quarter of this year

A report released by the Deutsche Bundesbank (Central Bank) on the 23rd stated that declining domestic consumption, weak foreign demand, and rising interest rates caused the German economy to slow down in the summer. The Deutsche Bundesbank’s September monthly report said that “German real gross domestic product (GDP) is likely to shrink in the third quarter of 2023.” In addition, the report also showed that as inflation fell, a strong labor market and wage increases led to Here comes the push. However, consumers remain cautious in their consumption.