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Financial Times — World — German Recession — Global Economy — German economy — Martin Arnold

Fall in German GDP increases threat of deep recession in EU’s largest economy

German GDP shrank 0.3% in Q1 due to weak consumer and industrial activity, raising fears of sustained recession in the largest EU economy.

1 min read
  • German GDP shrank 0.3% in Q1 due to weak consumer and industrial activity.
  • This marks the second consecutive quarterly decline in GDP, meeting the technical definition for a recession.
  • Household consumption dropped 1.2% from the previous quarter due to high inflation and rising interest rates.
  • Private sector investment rebounded in Q1 from a weak second half of 2022, driven up 3.9% by higher construction activity.
  • Germany is expected to be the weakest performer among the world’s big economies this year.
Fall in German GDP increases threat of deep recession in EU’s largest economy
First-quarter decline, on weak consumer and industrial activity, is second consecutive contraction in output
Financial TimesMartin Arnold

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