Destatis does not release a GDP sector breakdown in the first release but noted that private consumer spending was a key driver of the contraction.
The euro zone’s biggest economy has been hit harder than other European countries by soaring gas prices because of its large manufacturing production.Director of Technology Ireland, Una Fitzpatrick, gives the industry view on the recent job losses. The Ibec branch wants to counter the narrative that the sector is in free-fall, noting these are the first redundancies of this level since 2010.
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