The German economy has entered a recession, with GDP
contracting by 0.3% in the first quarter of 2023.
This follows a 0.1% decline in the fourth quarter of 2022.
he World Bank has warned that the global economy is facing a "synchronized slowdown",
with growth expected to slow to 2.9% in 2023 from 3.6% in 2022.
There are a number of factors contributing to the slowdown in the German economy.
The war in Ukraine has disrupted supply chains and led to higher energy prices.
The war has also caused uncertainty in the global economy, which has weighed on business investment.
In addition, the European Central Bank is expected to raise interest rates in an effort to
combat inflation, which will further dampen economic growth.