Germany, the powerhouse of Europe’s economy, is currently navigating through turbulent economic waters. In its latest report, the Bundesbank has sounded the alarm of a looming recession.
According to the bank, Germany’s external demand is weakening; consumers are exercising caution, and soaring borrowing costs hinder domestic investment. Since the onset of the conflict between Russia and Ukraine, Germany has experienced four consecutive quarters of stagnant or negative growth, posing significant challenges to the broader Eurozone economy.