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German economy shrank in 2023 on energy, export woes
German economy shrank in 2023 on energy, export woes
Economy
by  AFP

The German economy shrank slightly in 2023, official data showed Monday, as costly energy, high interest rates and cooling foreign demand took their toll on Europe's export giant. "Unfavourable financing conditions due to rising interest rates and weaker domestic and foreign demand also took their toll."