- Germany’s economy is facing extremely testing times.
- Not to be outdone by that harbinger of gloomy news, the German government has now slashed its growth forecast for this year and predicts the economy will shrink in 2023.
- If GDP shrinks for two quarters in a row, this is referred to as a “technical recession,” which already loomed at the end of 2021 after GDP shrank by 0.3% in the last quarter of the year as a result of the coronavirus pandemic.
Economy: Recession rears its ugly head in Germany 17.10.2022
