The Bundesbank predicted that Germany would enter a recession with weak external demand, continued consumer caution, and a decline in domestic investment due to high borrowing costs.
Germany has been struggling since Russia's 2022 invasion of Ukraine drove up energy costs, and its huge industry-driven economy is now entering the fourth consecutive quarter of zero or negative growth, affecting the entire Eurozone.
According to the German central bank, there is still no recovery of the German economy so that output may fall again slightly in the first quarter of 2024. With the second consecutive decline in economic output, the German economy will be in a technical recession.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
