Before sunrise, residential and office buildings in the banking metropolis of Frankfurt are reflected in the quietly flowing River Main.
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The German economy entered a technical recession in the first quarter of this year as households tightened their spending.
The GDP (gross domestic product) for the first three months of the year was revised down from zero to -0.3%, according to data released by the German Statistics Office on Thursday.
This comes after Germany contracted by 0.5% in the final quarter of 2022. Two consecutive quarters of negative growth define a technical recession.
Germany, Europe’s largest economy, has been under intense pressure, especially after Russia’s invasion of Ukraine and the subsequent decision by European leaders to cut ties with Moscow.
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