According to official estimates, Germany’s economy stagnated between January and March 2023, amid fears of entering recession. In the fourth quarter of 2022, Germany had recorded a decrease of 0.5%.
According to the estimates of the Council of German Economic Experts, an independent institute, Germany will intensify economic activities and have an economic growth of 0.2% in 2023. The government in Berlin expects even an economic growth of 0.4%.
The euro zone economy grew by 0.1% in the first quarter of 2023, compared to the previous quarter, and, at the level of the entire European Union, economic progress was 0.3%, announced the EU Statistics Office ( Eurostat). On an annual basis, both the euro zone and the European Union recorded economic growth of 1.3% in the first quarter of 2023.
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