German economy slumps

Germany went into reverse in the third quarter, shrinking 0.2 percent after a gain of 0.5 percent in the previous three months, official data showed Wednesday.

It was the first quarter-on-quarter fall in gross domestic product since early 2015, federal statistics authority Destatis said, and worse than the 0.1-percent slip forecast by analysts.

"The slight fall in GDP was above all down to external trade developments," Destatis said, pointing to lower exports and higher imports than in the Q2.

Meanwhile at home there was higher government spending and private-sector investment, but consumer spending fell.