The risk of recession is looming for Germany after Europe’s biggest economy shrank at the end of 2021 and as it faces a bumpy start to this year, with the rapid spread of COVID-19’s omicron variant deterring people from shopping and travel and supply bottlenecks holding back manufacturers.
Output in Germany fell by between 0.5% and 1% in the fourth quarter, the state statistics agency Destatis said Friday. Forecasts are also shaky for the first three months of 2022, and two straight quarters of falling output would leave Germany in recession, according to one commonly used definition.
