London (CNN Business) Germany may have dodged a recession but its economic performance in 2018 was still the weakest in five years, adding to evidence that trade tensions and a sharp slowdown in China are hampering global growth.

The German economy grew 1.5% in 2018, according to preliminary government data published Tuesday. That's a sharp drop from the 2.2% expansion in 2017, and the slowest annual rate since the European debt crisis.

The euro slumped nearly 0.4% to $1.14 after the GDP data was released.

Holger Schmieding, chief economist at Berenberg, said the German economy has been hit by "a series of shocks."

Trade tensions, turmoil in emerging markets, a temporary spike in oil prices, uncertainty over Brexit and a sharp economic slowdown in China all contributed to the weakness.

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