Germany's Economy Grows 0.2% in Q3

Germany's economy unexpectedly grew by 0.2% in the third quarter, driven by government and household spending, alleviating fears of a recession for the largest economy in Europe. This expansion comes despite a revised contraction of 0.3% in the second quarter. However, the labor market showed signs of distress, with unemployment rising by 27,000 in October, surpassing analysts' predictions, while the jobless rate remained steady at 6.1%. Despite this growth, experts warn of ongoing economic challenges including high energy costs and weak global demand. The positive GDP figures have resulted in a stronger euro and altered expectations for European Central Bank interest rate cuts. Overall, while the growth is a relief, underlying structural issues continue to pose risks for the future.