The figures were a blow to the German government, which last month boldly doubled its growth forecast for this year after a feared winter energy crunch failed to materialise. READ MORE : Subscribe to our channel: Watch our LIVE here: Subscribe to our thematic channels: NoComment: Euronews Green: Euronews Next: Euronews Travel: Euronews is available on YouTube in 12 languages: #World...(read more)
BREAKING: Recession News
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The Statistics Office of Germany has recently announced that the country has slipped into a recession after its economy contracted by 0.3% in the first quarter of this year. This marks the first time in seven years that Germany has faced a recession, and it underscores the economic challenges that the country is currently facing. A recession is often defined as two consecutive quarters of negative economic growth, and the latest figures from the Statistics Office suggest that Germany is now in the midst of a downturn. The country's economy has been hit by a range of factors, including external challenges such as the ongoing trade tensions between the US and China, as well as internal issues such as the end of government stimulus measures. The Statistics Office also reported that imports dropped by 1.6% in the first quarter, while exports grew by a modest 0.9%. This suggests that weakening external demand is having an impact on Germany's economy, which relies heavily on exports to drive growth. In addition to these factors, Germany's automotive sector has also struggled in recent months. This is significant, as the auto industry is a key driver of the country's economy, and it has been hit by declining sales and regulatory challenges related to emissions and safety. Despite these challenges, there are some signs of hope for Germany's economy. The country's unemployment rate remains low, and consumer confidence is still relatively strong. Additionally, the German government has pledged to invest in infrastructure and education in order to boost economic growth. However, the road ahead will be challenging for Germany, and it is likely that the country's economic performance will remain subdued in the near term. The latest figures from the Statistics Office serve as a reminder of the delicate balance between internal and external factors that can influence economic growth, and they highlight the need for policymakers to remain vigilant in the face of uncertain economic conditions. https://inflationprotection.org/germany-enters-recession-as-economy-shrinks-by-0-3-in-first-quarter-reports-statistics-office/?feed_id=101739&_unique_id=64721b631de0a #Inflation #Retirement #GoldIRA #Wealth #Investing #employment #gb_safe #gdp #Germaneconomy #Germany #gs_busfin #gs_busfin_economy #gs_busfin_economy_jobmarket #gs_economy #gs_economy_misc #gs_science #gv_safe #inflation #pos_ukrainecriris_ru #recession #World #RecessionNews #employment #gb_safe #gdp #Germaneconomy #Germany #gs_busfin #gs_busfin_economy #gs_busfin_economy_jobmarket #gs_economy #gs_economy_misc #gs_science #gv_safe #inflation #pos_ukrainecriris_ru #recession #World
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