• English
    • en_USEnglish
    • en_GBEnglish
28 °c
26 ° Tue
26 ° Wed
26 ° Thu
26 ° Fri
Sunday, May 28, 2023
Asiafreepress
  • Home
    • Latest
  • World
  • Asia
    • China
    • Pakistan
    • Afghanistan
    • India
    • Central Asia
  • News
  • Politics
  • Security
  • Law
  • Business
  • Review
    • Editorial
    • Analysis
    • Perspective
    • Literature
  • Science & Tech
  • Entertainment
    • Showbiz
    • Lifestyle
  • Sports
  • Multimedia
Breaking News
China, DRC upgrade ties to comprehensive strategic cooperative partnershipFM Muttaqi Says IEA Wants Good Ties with IranProtected wild plant species found in nature reserve in China’s ChongqingTürkiye to hold runoff vote on Sunday to elect presidentAli Zaidi breaks up every association with PTI, leaves politics
No Result
View All Result
  • Home
    • Latest
  • World
  • Asia
    • China
    • Pakistan
    • Afghanistan
    • India
    • Central Asia
  • News
  • Politics
  • Security
  • Law
  • Business
  • Review
    • Editorial
    • Analysis
    • Perspective
    • Literature
  • Science & Tech
  • Entertainment
    • Showbiz
    • Lifestyle
  • Sports
  • Multimedia
No Result
View All Result
Asiafreepress
No Result
View All Result
Home Latest

German economy stagnates, teeters on brink of recession

AFP News Agency by AFP News Agency
April 28, 2023
in Latest, News, World
0
German economy stagnates, teeters on brink of recession
0
SHARES
8
VIEWS

Frankfurt, Germany: Germany teetered on the brink of recession Friday after official data showed the economy stagnated in the first quarter despite expectations for a slight rebound, as the energy crisis weighed on Europe’s top economy.

Gross domestic product came in flat from January to March, according to preliminary figures from federal statistics agency Destatis said.

If the economy had recorded a contraction again — after shrinking 0.5 percent in the final quarter of 2022 — it would have entered a “technical recession”.

However, the flat reading could still be revised to a contraction when final figures are released.

The industrial powerhouse, which had long been heavily reliant on Russian energy, was hit hard after Moscow’s invasion of Ukraine sent gas prices surging.

Analysts and the government predicted for months that soaring inflation, particularly of energy, would push the economy into a sharp winter downturn.

But expectations changed in recent weeks as Germany’s vast industrial sector rebounded, on the back of falling energy prices and the reopening of China, a key market for German manufacturers, after long Covid lockdowns.

While the economy appears to have avoided the worst, the first quarter reading was below expectations from analysts surveyed by financial data firm FactSet for an expansion of 0.2 percent.

According to Destatis, exports and investments helped to support GDP but household and government consumption declined.

The GDP data “illustrates that the industrial renaissance of the last two months has not been enough to get the economy out of recessionary territory,” said ING economist Carsten Brzeski.

“The overall direction for the German economy is clear: this year will bring a long flirtation with stagnation.”

Previous Post

UN Security Council unanimously calls on Taliban to reverse bans on women, girls

Next Post

Bank of Japan maintains monetary easing but plans review

AFP News Agency

AFP News Agency

Next Post
Bank of Japan maintains monetary easing but plans review

Bank of Japan maintains monetary easing but plans review

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • Trending
  • Comments
  • Latest
Jammu Genocide: Forgotten human carnage of disputed region

Jammu Genocide: Forgotten human carnage of disputed region

November 6, 2021
Heroic Tale of a Pakistani SULTAN in 1971 War

Heroic Tale of a Pakistani SULTAN in 1971 War

December 1, 2021
Indian forces kill under trial inmate in staged encounter in Kashmir

Indian forces kill under trial inmate in staged encounter in Kashmir

October 26, 2021
Peace, development make way to Xinjiang. Experts reject US allegations of genocide in Xinjiang China

Peace, development make way to Xinjiang. Experts reject US allegations of genocide in Xinjiang China

November 26, 2021
Pakistan summons Indian diplomat over killing of Muslims  in Assam

Pakistan summons Indian diplomat over killing of Muslims in Assam

4
Jammu Genocide: Forgotten human carnage of disputed region

Jammu Genocide: Forgotten human carnage of disputed region

4
Peace, development make way to Xinjiang. Experts reject US allegations of genocide in Xinjiang China

Peace, development make way to Xinjiang. Experts reject US allegations of genocide in Xinjiang China

3
India’s senior army officer booked on rape charges

India’s senior army officer booked on rape charges

3
China, DRC upgrade ties to comprehensive strategic cooperative partnership

China, DRC upgrade ties to comprehensive strategic cooperative partnership

May 28, 2023
FM Muttaqi Says IEA Wants Good Ties with Iran

FM Muttaqi Says IEA Wants Good Ties with Iran

May 27, 2023
Protected wild plant species found in nature reserve in China’s Chongqing

Protected wild plant species found in nature reserve in China’s Chongqing

May 27, 2023
Türkiye to hold runoff vote on Sunday to elect president

Türkiye to hold runoff vote on Sunday to elect president

May 27, 2023

Recent News

China, DRC upgrade ties to comprehensive strategic cooperative partnership

China, DRC upgrade ties to comprehensive strategic cooperative partnership

May 28, 2023
FM Muttaqi Says IEA Wants Good Ties with Iran

FM Muttaqi Says IEA Wants Good Ties with Iran

May 27, 2023
Protected wild plant species found in nature reserve in China’s Chongqing

Protected wild plant species found in nature reserve in China’s Chongqing

May 27, 2023
Türkiye to hold runoff vote on Sunday to elect president

Türkiye to hold runoff vote on Sunday to elect president

May 27, 2023
Asiafreepress

Follow Asia Free Press (AFP) on Twitter, Facebook, Linkedin, Youtube and Instagram for the latest news from China, Pakistan, Afghanistan, India, Kashmir and across Asia.

Follow Us

Photo Gallery

Quick Links

  • Submission Guidelines
  • Privacy Policy
  • About Us
  • Contact Us

Stay in Touch

To be updated with all the latest news, offers, and special announcements.

No Result
View All Result
  • Home
    • Latest
  • World
  • Asia
    • China
    • Pakistan
    • Afghanistan
    • India
    • Central Asia
  • News
  • Politics
  • Security
  • Law
  • Business
  • Review
    • Editorial
    • Analysis
    • Perspective
    • Literature
  • Science & Tech
  • Entertainment
    • Showbiz
    • Lifestyle
  • Sports
  • Multimedia

en_USEnglish (United States)
en_GBEnglish (UK) en_USEnglish (United States)