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INFLATION has pushed Germany into recession within the first three months of the yr.
Europe’s largest economic system shrank by 0.3 per cent from January to March — after contracting by 0.5 per cent within the final three months of 2022.
The nation’s inflation price stood at 7.2 per cent in April, above the euro space’s common however under the UK’s 8.7 per cent.
Germany was badly affected when Russian fuel provides dried up following the invasion of Ukraine, analysts stated.
Friedrich Merz, chief of opposition social gathering CDU, stated the information ought to get up the German Chancellor Olaf Scholz.
And Andreas Scheuerle, an analyst at DekaBank, stated: “The patron has fallen to his knees, taking the economy with him.”
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