Germany already in recession, DIW researchers say

BERLIN, Sept. 28 (Xinhua) -- The German economy is already in recession as a result of the energy crisis, high inflation rates and shrinking global trade, the country's Institute for Economic Research (DIW Berlin) said on Wednesday.

"Unfortunately there is no light at the end of the tunnel at the moment," said DIW economic expert Guido Baldi, who estimates the gross domestic product (GDP) of Europe's largest economy will shrink by approximately five percent in 2022 and 2023.