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.
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Man killed in flat ceiling plaster crash, wife and son hurt
Thane (PTI): A 45-year-old man was killed, and his wife and son were injured when a portion of plaster from the ceiling collapsed in their flat in a seven-storey building in Thane on Saturday, officials said.
Chief of the Regional Disaster Management Cell, Yasin Tadvi, said the 16-year-old building is not listed in the "dangerous" category.
"The incident occurred in Karumdev Society at about 3 am. The plaster of the hall in a flat on the terrace floor suddenly fell while the occupants were asleep", he said.
Of the four people who were inside the room, two suffered minor injuries and were discharged after primary treatment, Tadvi stated.
The injured persons were identified as Arpita More (42), who suffered minor head injuries, and her son Arush More (16), who sustained injuries to both legs.
Manoj More (45), who sustained chest injuries, died during treatment at a private hospital.
