Germany falls into recession as consumers spend less: Report

Berlin [Germany], May 26 (ANI): Germany has slipped into recession as last year's energy price shock took its toll on consumer spending, CNN reported on Thursday (local time).

Europe's largest economy's output dropped 0.3 per cent in the first three months of the year, following a 0.5 per cent contraction at the end of 2022, official data showed on Thursday.

The Federal Statistical Office downgraded its previous estimate