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The German economy recorded a slight contraction in Q3

Data showed on Monday that the German economy recorded a slight contraction in the third quarter, as the performance of the largest economy in Europe is still affected by weak purchasing power and high interest rates.

The Federal Statistics Office said that the gross domestic product fell 0.1 percent on a quarterly basis in light of adjusted factors.

A Reuters poll expected the economy to contract by 0.3 percent.

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