Thursday, May 25, 2023

Germany's economy contracts, signaling a recession

People walk past a store in Berlin on Oct. 11, 2022. The German economy shrank unexpectedly in the first three months of this year.

The German economy shrank unexpectedly in the first three months of this year, marking the second quarter of contraction that is one definition of recession. High inflation hit consumer spending.

(Image credit: Michael Sohn/AP)

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