The German economy only narrowly avoided falling into recession earlier this year, data published yesterday revealed.
GDP flat-lined in the three months to March 31 after a 0.5 per cent decline in the final quarter of 2022. Analysts had forecast 0.2 per cent growth.
Two consecutive quarters of contraction in output is a recession – so Europe’s largest economy survived by the skin of its teeth.
Behind the line: GDP flat-lined in the three months to March 31 after a 0.5 per cent decline in the final quarter of 2022
‘The German economy remained stuck in the mud at the start of 2023,’ said Claus Vistesen at Pantheon Macroeconomics.
Interest rate hikes are expected to weigh on the economy in the second half of the year.
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