Germany Falls into Recession as Inflation Hits Economy 

Persistent inflation has helped push Germany into recession in the first three months of the year, an upgrade to growth data shows. <br />Europe's largest economy was also badly affected when Russian gas supplies dried up after the invasion of Ukraine, analysts said. <br />The economy contracted by 0.3% between January and March, that followed a 0.5% contraction in the last three months of last year. <br />Germany's inflation rate stood at 7.2% in April, above the euro area's average but below the UK's 8.7%. <br />Higher prices have weighed on household spending on things such as food, clothing and furniture. Industrial orders are also weaker, reflecting the impact of higher energy prices on businesses. <br /><br /><br />This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at <a href="https://www.spreaker.com/show/4166630/advertisement">https://www.spreaker.com/show/4166630/advertisement</a>