Germany’s economy narrowly avoided a recession in the first quarter as the Ukraine war and the lingering effects of pandemic restrictions weighed on economic activity, but with enough wiggle room for Europe’s biggest economy to eke out a 0.2 percent pace of growth.
Data released on May 25 by Germany’s Federal Statistics Office showed that Germany’s gross domestic product grew 0.2 percent quarter-over-quarter in Q1 of 2022, in line with analysts’ estimates.
“War in Ukraine and the continuing COVID-19 pandemic have intensified existing distortions, including interruptions in supply chains and rising prices,” Georg Thiel, president of the Federal Statistical Office, said in a statement….