Germany has slipped into recession. The economy shrank by 0.3% in the first quarter of this year, according to data from the federal statistics office Destatis. The main contributing factor was lower spending by German households.
Inflation has hit the German economy hard, with consumers spending less on items such as food and clothing, reports Deutsche Welle. The German economy contracted by 0.3% in the first quarter of this year compared to the previous quarter, putting Germany into a technical recession.