Germany falls into recession. Growth began to stagnate May 2022 and April 2023 with negative growth Q1 2023, while inflation remains at multidecade highs. The European Union is facing stagflation for 2023.

Germany is now the first country of Europe to enter a recession with its GDP falling into negative territory at -0.5 (orange line).   All the while inflation remains at multidecade highs (white line) at 7.20%.  This correlates to their Purchasing Manager Index (PMI) for construction, returning to its 2020 pandemic lows, showing negative growth at -2.10%.  Germany is the European Union's economic power engine, which is telling that the rest of the Euro Zone is most probably facing stagflation.