Germany has seen its economy go through the third worst quarter since 2015 after it shrunk by 0.2% during that timeframe, flash data showed on November 15, which coincided with headlines captured by the Brexit and the Italian budget crisis.
The drop stems from weak domestic consumer demand, despite sustainably strong exports in the third quarter. Weaker demand, however, was not particularly noticeable in a key cog of the German economy – the car industry. German car production fell by 24% by September, according to the German Automotive Industry, and new car registrations dropped by 31%.
The German government expects 2018 growth to be 1.8%, down from the initial projection of 2.3%