Germany's Economy Minister Katherina Reiche addresses a press conference to present the German government's spring projections, on April 22, 2026 in Berlin. The German government halved its growth forecast for the year 2026 as the energy shock triggered by the Middle East war hammers Europe's biggest economy. The economy ministry said it expected GDP to expand 0.5 percent in 2026, down from a projection of one percent made in January. It also cut its forecast for 2027 to 0.9 percent, down from 1.3 percent. (Photo by Tobias SCHWARZ / AFP via Getty Images)

Germany's Economy Minister Katherina Reiche addresses a press conference to present the German government's spring projections, on April 22, 2026 in Berlin. The German government halved its growth forecast for the year 2026 as the energy shock triggered by the Middle East war hammers Europe's biggest economy. The economy ministry said it expected GDP to expand 0.5 percent in 2026, down from a projection of one percent made in January. It also cut its forecast for 2027 to 0.9 percent, down from 1.3 percent. (Photo by Tobias SCHWARZ / AFP via Getty Images)

Germany's Economy Minister Katherina Reiche addresses a press conference to present the German government's spring projections, on April 22, 2026 in Berlin. The German government halved its growth forecast for the year 2026 as the energy shock triggered by the Middle East war hammers Europe's biggest economy. The economy ministry said it expected GDP to expand 0.5 percent in 2026, down from a projection of one percent made in January. It also cut its forecast for 2027 to 0.9 percent, down from 1.3 percent. (Photo by Tobias SCHWARZ / AFP via Getty Images)

Germany's Economy Minister Katherina Reiche arrives to address a press conference to present the German government's spring projections, on April 22, 2026 in Berlin. The German government halved its growth forecast for the year 2026 as the energy shock triggered by the Middle East war hammers Europe's biggest economy. The economy ministry said it expected GDP to expand 0.5 percent in 2026, down from a projection of one percent made in January. It also cut its forecast for 2027 to 0.9 percent, down from 1.3 percent. (Photo by Tobias SCHWARZ / AFP via Getty Images)

Germany's Economy Minister Katherina Reiche addresses a press conference to present the German government's spring projections, on April 22, 2026 in Berlin. The German government halved its growth forecast for the year 2026 as the energy shock triggered by the Middle East war hammers Europe's biggest economy. The economy ministry said it expected GDP to expand 0.5 percent in 2026, down from a projection of one percent made in January. It also cut its forecast for 2027 to 0.9 percent, down from 1.3 percent. (Photo by Tobias SCHWARZ / AFP via Getty Images)

Germany's Economy Minister Katherina Reiche arrives to address a press conference to present the German government's spring projections, on April 22, 2026 in Berlin. The German government halved its growth forecast for the year 2026 as the energy shock triggered by the Middle East war hammers Europe's biggest economy. The economy ministry said it expected GDP to expand 0.5 percent in 2026, down from a projection of one percent made in January. It also cut its forecast for 2027 to 0.9 percent, down from 1.3 percent. (Photo by Tobias SCHWARZ / AFP via Getty Images)

Germany's Economy Minister Katherina Reiche poses before presenting the German government's spring projections, on April 22, 2026 in Berlin. Reiche sais the German government halved its growth forecast for this year as the energy shock triggered by the Middle East war hammers Europe's biggest economy. (Photo by Tobias SCHWARZ / AFP via Getty Images)

Germany's Economy Minister Katherina Reiche poses before presenting the German government's spring projections, on April 22, 2026 in Berlin. Reiche sais the German government halved its growth forecast for this year as the energy shock triggered by the Middle East war hammers Europe's biggest economy. (Photo by Tobias SCHWARZ / AFP via Getty Images)