Sources: Sky News
The German government cuts its economic growth forecast to zero, with the Deutsche Bundesbank estimating a future recession. Minister of Economic Affairs Robert Habeck accuses U.S. President Donald Trump's Liberation Day tariffs of being the primary reason for Germany's continued economic crisis. 2025-04-25
The Handelsblatt Research Institute reports that the German economy is in its "greatest crisis in post-war history" after projecting that the economy will enter its third year of recession in 2025 with a 0.1% contraction, following a 0.3% contraction in both 2023 and 2024. 2025-01-2
The European Central Bank raises interest rates for the 10th time to mitigate high inflation amid concerns that higher borrowing costs could push the economy into a recession. 2023-09-14
The economy of New Zealand enters a recession after gross domestic product fell 0.1% in the March quarter, as the central bank raises interest rates to a 14-year high. Annual growth also slowed to 2.2%, according to Statistics New Zealand. 2023-06-15
The United States enters a technical recession after its economy shrank for the 2nd consecutive quarter. 2022-07-28
The Turkish lira plunges to an all-time low of 17.0705 to the U.S. dollar, triggering a direct central bank intervention in the stock market. The lira has lost 55% of its value this year, including 37% in just the last 30 days. President Recep Erdoğan announces a 50% rise in the minimum wage from next year. 2021-12-17
The United States's GDP contracts 3.5% in 2020, its first annual contraction since 2009 following the financial crisis of 2007–2008 and the country's worst economic performance since 1946. 2021-01-28
The United Kingdom's economy officially enters recession for the first time since 2009, according to Chancellor Rishi Sunak. 2020-08-12
Markets are on pace for their worst week since the 2008 financial crisis. 2020-02-27
The Turkish economy enters a recession for the first time since 2009 after the currency and debt crisis of 2018. 2019-03-11