Germany's GDP shrinks by 0.3% in first quarter to put Europe's biggest economy into recession
Berlin, May 25: New figures show the German economy suffered an unexpected dip in the first quarter of this year, putting the country formally into recession.
Data released Thursday by the Federal Statistical Office shows Germany's gross domestic product, or GDP, down by 0.3 per cent in the period from January to March. This follows a drop of 0.5 per cent in Europe's biggest economy during the last quarter of 2022. Two consecutive quarters of decline constitute a technical recession.
The figures are a blow to the German government, which last month boldly doubled its growth forecast for this year after a feared winter energy crunch failed to materialise.
It said GDP will grow by 0.4 per cent up from a 0.2 per cent expansion predicted in late January a forecast that may now need to be revised downward.
Economists said high inflation hit consumer spending, with prices in April 7.2 per cent higher than a year ago.
GDP reflects the total value of goods and services produced in a country. Some experts question whether the figure alone is a useful indicator of economic prosperity given that it doesn't distinguish between types of spending.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
UP: Five of family arrested for assaulting a cop during raid in Sultanpuri
New Delhi (PTI): The Delhi Police has arrested five of a family for allegedly assaulting a police officer and snatching his service pistol during a raid in the Sultanpuri area, an official said on Wednesday.
The accused are Rajender (50), his sons Ritik (24), Sachin (29), Abhishek (26), and his daughter Komal (22).
The incident occurred on September 2, when a team from the Anti-Narcotics Task Force arrested Alka, wife of Rajender, for possession of heroin, police said.
During the raid, Alka's family members attacked a police officer with sticks and bricks and snatched his service pistol, mobile phone, and wallet. However, the officer managed to recover his service pistol, they said.
Police said that an FIR was registered and an investigation was launched.
Acting on a tip-off, police arrested the accused, absconding since the incident, from a flat in Raghubir Nagar in Delhi.
