Official data released on Monday revealed that Germany experienced a decline in output during the third quarter, which raises concerns about the possibility of a recession in Europe's largest economy. The country's gross domestic product decreased by 0.1% in the July-to-September period compared to the previous quarter, where it had grown by 0.1%. This decline was primarily driven by a decrease in consumer spending, although investment in machinery and equipment by companies had a positive impact on GDP. The significance of Germany's economic performance is noteworthy as it is the largest economy among the 20 countries that use the euro. Claus Vistesen, the chief eurozone economist at Pantheon Macroeconomics, commented that Germany's economy is on the verge of a technical recession, which is defined as two consecutive quarters of declining output. This is an ongoing story that will be updated.
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