Stressed German economy 'to hardly grow this year'

Germany Chancellor Olaf Scholz. Germany is probably in a six-month slump, though a severe downturn is unlikely.

Germany is in recession and its economy will hardly grow this year, according to a Bloomberg survey.

Gross domestic product will contract 0.1% in the first quarter, the poll which was conducted between March 8 and March 18 showed. A month ago, analysts were predicting stagnation in the first three months of the year.