Germany heads for technical recession

16:51 - 25.05.2023

May 25, Fineko/ Germany's GDP decreased by 0.3% in the 1st quarter of 2023 against Q1 of 2022, ABC.AZ reports, referring to the Federal Statistical Office.

Country's GDP has been declining for the 2nd quarter in a row, which means technical recession. GDP decreased by 0.5% in the 4th quarter of 2022.