Germany Slips Into Recession as Exports Slump, Inflation Slows Slightly But Remains High
• Germany's economy contracted 0.1% in Q3 2023, after stagnating in the first half of the year, pointing to a likely technical recession • Inflation fell from over 10% last year to 3.8% in October 2023, but is still burdening consumers and limiting spending • Exports and imports both dropped sharply in Q3 • A recent court ruling threatens future growth by jeopardizing 60 billion in funds for Germany's climate and transformation initiatives • Economists debate whether Germany is becoming "the sick man of Europe again," as its growth lags behind other eurozone countries