The German economy contracted in the first quarter of 2023 compared with the previous three months, thereby entering recession, data from the statistics office showed on Thursday.
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A second estimate shows Germany's gross domestic product fell by 0.3% in the first quarter of 2023, following a decline of 0.5% in the fourth quarter of 2022
Germany’s GDP fell .3 per cent in the first quarter of 2023 following a .5 per cent decline in the last quarter of 2022. Though Chancellor Olaf Scholz described the outlook for the economy as ‘very good’ experts say this is a rude awakening for the country and the entire continent