Germany GDP grew 0.2% qoq in Q1, recovering from a 0.3% contraction in the previous period. On the same quarter a year earlier, GDP grew 3.7% yoy. The growth was mainly due to higher capital formation, whereas the balance of exports and imports had a downward effect on economic growth. The economic consequences of the war in Ukraine have had a growing impact on the short-term economic development since late February.
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