Germany’s Economy Stagnates in Q2
Germany’s economy faced stagnation in the second quarter, raising concerns about the eurozone’s largest economy.
According to federal statistics, gross domestic product remained unchanged in Q2, indicating a technical exit from its winter recession.
Going nowhere: Gross domestic product was unchanged in the second quarter, federal statistics show, meaning it technically exited its winter recession
This represents an improvement from a 0.1% decline in Q1 and a 0.4% contraction in Q4 of the previous year.
The International Monetary Fund has recently downgraded its predictions for the German economy, now expecting it to shrink by 0.3% in 2023.
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