Germany enters recession
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. Gross domestic product fell by 0.3% for the quarter when adjusted for price and calendar effects, the data showed. A recession is commonly defined as two successive quarters of contraction. The statistics office publishes a detailed report outlining the data.
- Country:
- Germany
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.
Gross domestic product fell by 0.3% for the quarter when adjusted for price and calendar effects, the data showed. This follows a decline of 0.5% in the fourth quarter of 2022. A recession is commonly defined as two successive quarters of contraction.
The statistics office publishes a detailed report outlining the data.
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