Central Bank says Germany near recession
2024-02-19 13:00:12 - Source: CHANNEL8
Germany’s central bank said on Monday that German output will likely see a decline in the first quarter amid several crises, triggering a recession. Russia’s 2022 invasion of Ukraine caused spiraling inflation, in addition to an industrial slowdown and trouble with primary trading partners. The Bundesbank said the output is “likely to once again decline slightly” from January to March after contracting 0.3 percent in the final quarter of 2023. “This second consecutive decline in economic output would put the German economy into a technical recession,” the Bundesbank said. The central bank pointed to several issues, including limited consumer spending