- Germany's first recession since the start of the pandemic.
- First-quarter output shrank 0.3% from the previous three months.
- The reluctance of households to buy was apparent in a variety of areas.
- Plunge in government expenditure, while investment was up.
- Inflation still exceeds 7% and isn't expected to retreat quickly.
Germany Endures First Recession Since Covid on Consumers
Germany's economy shrank 0.3% in Q1, signaling the country's first recession since the beginning of the pandemic. The downturn is casting doubt on the country's business outlook and is expected to lead to weak economic activity amid rising inflation and interest-rate hikes.