- GDP (non-seasonally adjusted) -0.2% vs +0.2% y/y prelim
- GDP (working day adjusted) -0.5% vs -0.1% y/y prelim
What initially was supposed to be marginal growth turned out to be flat growth, and is now revised to a contraction in the German economy in Q1. As such, that sees Germany suffer a winter recession and this isn’t really a vote of confidence on the outlook moving forward despite the supposed resilience in the services sector.