German economy slipped into recession – Germany

2023-05-25 06:23:13

Berlin – The German economy has slipped into a recession following all due to falling consumer spending by inflation-plagued consumers. The gross domestic product (GDP) shrank by 0.3 percent from January to March compared to the previous quarter and thus for the second quarter in a row, as the Federal Statistical Office announced on Thursday. It thus revised its original estimate from the end of April, which had still shown stagnation.

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