Germany has fallen into recession with revised figures showing gross domestic product in Europe’s largest economy shrank in the first quarter of the year.
Destatis, the federal statistical agency, said the German economy contracted 0.3 per cent in the three months to March, adjusting its initial estimate of zero growth. Some economists had expected the fall after German industrial production suffered its biggest drop for 12 months in March.
A second consecutive quarterly decline in GDP — after a downwardly revised 0.5 per cent contraction in the final quarter of last year — meets the definition of a technical recession.
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