The German economy was in recession in early 2023 after households spending in the country finally succumbed to the pressure of high inflation. Gross domestic product fell by 0.3% in the first quarter of the year when adjusted for price and calendar effects, a second estimate from the statistics office showed on Thursday. This follows a decline of 0.5% in the fourth quarter of 2022. A recession is commonly defined as two successive quarters of contraction. “German GDP data showed “surprisingly negative signals,” Finance Minister Christian Lindner said.