German economy shrinks by 0.3 pct in 2023

BERLIN, Jan. 30 (Xinhua) -- Germany's economy slipped into recession in 2023, shrinking by an estimated 0.3 percent year-on-year during the whole year, the Federal Statistical Office (Destatis) said on Tuesday.

In the fourth quarter of last year, the country's gross domestic product (GDP) was down a price-adjusted 0.4 percent compared with the same period the previous year.

"Overall economic development