By Ed Frankl
Germany left its recession behind in the second quarter of 2023, after new data confirmed preliminary results that the economy stalled in the three months to June, but didn’t contract.
Gross domestic product in Europe’s largest economy flatlined from April to June compared with the previous quarter, according to preliminary data from the country’s statistics office released Friday.
Economists polled by The Wall Street Journal also expected the economy to post zero growth.
Germany’s economy contracted 0.1% in the first quarter of the year and by 0.4% in the final three months of 2022. A technical recession is typically defined as two consecutive quarters of falling GDP.
“After slight declines in the previous two quarters, the German economy stabilized in spring,” Ruth Brand, president of the statistics office, said.
Write to Ed Frankl at edward.frankl@wsj.com
This article was originally published by Marketwatch.com. Read the original article here.
