The Federal Statistical Office could correct the growth figures for the first quarter.
(Photo: Stone/Getty Images)
Berlin The dreaded R-word, it’s back. Germany could still slide into a recession. It seemed recently that the German economy is slowly on the upswing again. A technical recession is spoken of when there are two consecutive quarters of declining economic output. In the fourth quarter of 2022 there was a minus of 0.5 percent for the German economy. At that time, a recession still seemed inevitable.
But it wasn’t quite that bad, especially thanks to falling energy prices. The estimate of the Federal Statistical Office for the first quarter of 2023 has so far been stagnation, so the German economy would have narrowly avoided recession.
But it is becoming more and more likely that the Wiesbaden statisticians will revise the number and put a minus sign in front of the value for the first quarter. Four data evaluations for March that the authority has published in the past few days make this a likely scenario:
Industrial production collapses
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Further