On annual basis, Europe’s largest economy shrank 0.2% in last quarter of 2024, official data shows.

Germany’s economy contracted 0.2% in the last quarter of last year, compared to July-September, above market estimates of a 0.1% decline, according to Destatis data released on Thursday.

The contraction in December was led by a marked decline in exports, according to the data.

On an annual basis, Europe’s largest economy shrank 0.2% in the final quarter of 2024, below economists’ estimates of no change in the figure.

Germany’s GDP also fell 0.2% over the course of 2024 from a year earlier.