Germany’s Economic Woes: Recession Strikes as Inflation and Higher Interest Rates Dampen Demand
Germany Faces Economic Downturn Amid Energy Price Surge Introduction Over the first three months of 2023, the economy shrank by 0.3 percent, according to the federal statistics agency Destatis. This marks a downgrade from the initial estimate of zero percent growth. Germany experienced a 0.5-percent contraction in the last three months of 2022, resulting in…