Recession Hits Germany
Economy Shrinks Marginally in 2023
The German economy shrank marginally in 2023 and contracted by 0.3% in the fourth quarter. This marks the first recession for the country since 2009.
Inflation and Economic Impact
The German government has agreed on a budget for 2025 and a stimulus package for Europe's largest economy. The package includes measures to boost growth and investment, as well as provide relief to households and businesses struggling with the cost of living crisis.
German inflation slowed after two months of accelerating as the country's economic recovery continues. The consumer price index (CPI) rose by 8.7% year-on-year in January, down from 9.2% in December. The German economy shrank by 5% last year as the Covid-19 pandemic took its toll on the country's economy.
Bbc
Bbc
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