German economy enters recession as first-quarter GDP data is revised lower

Germany, world’s fourth-largest economy, enters recession

World’s fourth-largest economy and Europe’s largest, Germany, has entered into recession after the country’s GDP recorded its second quarterly contraction. The country’s Gross Domestic Product (GDP) from January to March quarter fell by 0.3 per cent, data released by the Federal Statistical Office on Thursday showed. This was the second consecutive drop from the last quarter of 2022, which showed a GDP fall of 0.5 per cent. Two consecutive quart

Europe's Biggest Economy Falls Into Recession, Data Shows

Germany, Europe’s largest economy, has slipped into recession, official data published on May 25 shows. Data from Destatis, Germany’s federal statistical agency, shows that gross domestic product (GDP) fell by 0.3 percent for the quarter when adjusted for price and calendar effects, following a 0.5 percent contraction at the end of 2022. Last month, Destatis had estimated zero growth for the first quarter of this year, skirting a recession. “Aft…

Germany economy shrinks in first quarter, signaling one definition of recession

The German economy shrank unexpectedly in the first three months of this year, marking the second quarter of contraction that is one definition of recession.Data released Thursday by the Federal Statistical Office shows Germany's gross domestic product, or GDP, declined by 0.3% in the period from January to March. This follows a drop of 0.5% in Europe's biggest economy during the last quarter of 2022. Two consecutive quarters of contraction is a…

The Market Is Not The Economy: Germany Enters Recession With DAX At Record High

The Market Is Not The Economy: Germany Enters Recession With DAX At Record High The old mantra that 'the market is not the economy' has never been more true than in Germany as the country's stock market continues to surge to record highs as the nation's economy enters recession. Germany suffered its first recession since the start of pandemic, extinguishing hopes that Europe’s top economy could escape such a fate after the war in Ukraine sent en…

Germany falls into recession as inflation, higher interest rates curb demand

Over the first three months of 2023, the economy shrank by 0.3 percent, the federal statistics agency Destatis said, downgrading an initial estimate of zero percent. Following a 0.5-percent contraction in the last three months of 2022, it was Germany's second consecutive quarter of negative growth -- the threshold for a "technical recession".The slump came as Germany battled a surge in energy prices in the wake of the Russian invasion of Ukraine…

Germany, Europe's Largest Economy, Enters Recession After Successive GDP Drops

Germany slipped into a recession after its economy contracted in the first quarter of 2023, according to official figures published on Thursday, May 2023.The data shows that Europe’s largest economy contracted by 0.3 percent between January and March of this year. This comes after a 0.5 percent shrinkage in the last three months of 2022.A country is considered to be in recession if its economy contracts for two consecutive quarters.The numbers a…