• Germany continued to dodge a recession in the wake of the energy crisis, despite shrinking in 2023 with this year set to bring only a meager rebound.
• Gross domestic product fell 0.3% between October and December, according to a preliminary estimate Monday. But with the previous three months revised up to 0% from -0.1%, Europe’s largest economy avoided two straight quarters of contraction.
• It was nevertheless a tough year: GDP also shrank 0.3% over the full 12 months — the first such downturn since the pandemic. It’s a stark contrast to peers around the globe — it probably was the only Group of Seven economy to contract — and one that’s raising questions about the country’s future as an industrial powerhouse.