Germany heading for long recession, researchers say

BERLIN, July 12 (Xinhua) -- Recession in Germany is likely to be longer than previously expected, lasting into the third quarter of this year, the Dusseldorf-based Macroeconomic Policy Institute (IMK) said on Wednesday.

Following a 0.5 percent contraction in the fourth quarter of last year, Germany's gross domestic product (GDP) declined by a further 0.3 percent in the first quarter of 2023.

"The German e