The German economy entered a recession for the first time since the peak of the Corona pandemic. Data from Germany's statistics office showed that gross domestic product fell 0.3 percent in the first quarter of this year.
Europe's largest economy contracted in the fourth quarter of last year by 5.0 percent. This is the second time in 3 years that the German economy has slipped into recession, as this happened due to the repercussions of the pandemic in 2020. The data came a day after the Bundesbank released forecasts that the national economy would return to growth in the second quarter.