BUSINESS German economy shrinks 0.3 percent in Q1, enters recession

BUSINESS

German economy shrinks 0.3 percent in Q1, enters recession

Xinhua

14:29, May 25, 2023

The German economy contracted slightly in the first quarter of 2023 compared with the previous three months, thereby entering recession, data from the statistics office showed on Thursday.

A man fuels a vehicle up at a gas station in Berlin, Germany, Sept. 8, 2022. (Photo: Xinhua)

Gross domestic product fell by 0.3% for the quarter when adjusted for price and calendar effects, the data showed.

Source(s): Reuters


Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue