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25-05-2023, 09:40 PM
Germany falls into recession as inflation hits economy
Persistent inflation has helped push Germany into recession in the first three months of the year, an upgrade to growth data shows.
Europe's largest economy was also badly affected when Russian gas supplies dried up after the invasion of Ukraine, analysts said.
The economy contracted by 0.3% between January and March, the statistics office said.
That followed a 0.5% contraction in the last three months of last year.
A country is deemed to be in recession when its economy shrinks for two consecutive three-month periods, or quarters. read more
https://www.bbc.com/news/business-65707206
Persistent inflation has helped push Germany into recession in the first three months of the year, an upgrade to growth data shows.
Europe's largest economy was also badly affected when Russian gas supplies dried up after the invasion of Ukraine, analysts said.
The economy contracted by 0.3% between January and March, the statistics office said.
That followed a 0.5% contraction in the last three months of last year.
A country is deemed to be in recession when its economy shrinks for two consecutive three-month periods, or quarters. read more
https://www.bbc.com/news/business-65707206
