Gross domestic product: German economy with mini-growth in the first quarter of 2023

However, the third consecutive recession is looming for the year as a whole, not least because the aggressive tariff policy of US PresidentDonald Trump (78) has clouded the global economic outlook. In the final quarter of 2024, the German economy shrank by 0.2 percent.

The weak economy is also having an impact on the labor market. Although the number of unemployed in Germany fell by 36,000 compared to the previous month to 2.932 million in April thanks to a slight spring recovery, this is still 182,000 more than a year ago, according to the Federal Employment Agency in Nuremberg.