German economy only narrowly avoids falling into recession
Germany’s economy narrowly avoided sliding into recession earlier this year, published data shows
The German economy narrowly avoided a recession earlier this year, according to data released yesterday.
GDP remained flat in the three months to March 31 after a 0.5 percent decline in the last quarter of 2022. Analysts had forecast growth of 0.2 percent.
Two consecutive quarters of output contraction is a recession – so Europe’s largest economy survived on the skin of its teeth.
Behind the line: GDP flat in the three months to March 31 after falling 0.5 percent in the last quarter of 2022
“The German economy was stuck in the mire at the beginning of 2023,” says Claus Vistesen of Pantheon Macroeconomics.
Rate hikes are expected to weigh on the economy in the second half of the year.
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