German economy in recession after high prices take toll, revised figures reveal
Germany has entered a recession, revised official figures have revealed, after high prices took a bigger toll on the country’s economy than originally estimated. Data from the Federal Statistical Office showed Europe’s largest economy contracted by 0.3% in the first quarter of 2023, compared with the previous three months, when it shrank by 0.5%. The technical definition of a recession is two consecutive quarters of contraction. A previous estimate suggested Germany had narrowly avoided recession with 0% growth in the first quarter. The statistics office said on Thursday that while private sector investment and ... (full story)
- Comment #1
- May 26, 2023 2:13am May 26, 2023 2:13am
- | IP XX.XXX.129.44
- Comment #2
- May 26, 2023 3:35am May 26, 2023 3:35am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 2754 Comments
- Comment #3
- May 26, 2023 6:43am May 26, 2023 6:43am
- | Joined Jul 2012 | Status: Member | 178 Comments | Online Now
- Comment #4
- May 26, 2023 7:05am May 26, 2023 7:05am
- Joined Jan 2007 | Status: Member | 2553 Comments
- Older Stories
Households will save £426 a year on their energy bills from this summer, regulator Ofgem says, offering hope to millions struggling with £2,500-a-year tariffs. However, experts ...
Russia and Belarus signed a deal Thursday formalizing the deployment of Moscow’s tactical nuclear weapons on the territory of its ally, although control of the weapons remains in ...
More than a third of global energy will be generated by renewable capacity by 2025, but energy-related CO2 emissions continue to increase, up 0.9% in 2022. Global production, ...
- Newer Stories
Natural gas fell through the neckline of its head and shoulders pattern to signal that a reversal from the uptrend is underway. Price could fall by the same height as the chart ...
video Jeremy Hunt has told Sky News he is comfortable with Britain being plunged into recession if that's what it takes to bring down inflation. The chancellor said that he ...
US President Joe Biden and top Republican Kevin McCarthy appear to be inching closer to an agreement over the US debt ceiling - even as Congress breaks up for a holiday weekend. ...