Germany Recession..!? Fellow countries are in shock..!

As the Euro continues to decline, germany, which has the largest economy on the european continent, is in an economic recession, which has shocked its fellow countries. Economists are warning that the global economy is headed for recession. Economists advise people to reduce their spending. As a result of the recession, many companies are downsizing.

Economic Depression:

Germany, the continent's largest economy, has been confirmed to be in recession as the euro continues to slide. As the value of the US dollar has reached its peak for the past two months, there are concerns that the US will go bankrupt. In this context, germany has gone into recession. (Negative growth is called economic recession). The european continent's uneven economy has pushed the euro to its lowest level against the dollar in months. germany recorded negative growth in the first quarter of fiscal 2022, while its economy shrank in the current fiscal. The euro fell 0.2 percent to a two-month low. Similarly, China's yuan also fell to a six-month low.
Germany in trouble:

This week has been risky. It has generally benefited the dollar. We've seen some mixed trans-Atlantic macro data this week. Although germany is not the only eurozone, the economic momentum is very weak, said Stefan Melin, senior analyst at Danish Bank. The bankruptcy of 2 banks in the united states in a single week has caused great fear. Thus, is the 2008 crisis that shook the world going to come back? The fear arose.

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germany recession

Sowmiya Sriram

25/05/2023 09:40 PM