Last Update 1:5
Wednesday, 18 September 2019

German central bank suggests economy may be in recession

AP , Monday 19 Aug 2019
Share/Bookmark
Views: 969
Share/Bookmark
Views: 969

Germany's central bank has issued a gloomy economic report suggesting that growth in the summer continued to shrink, raising the possibility Europe's largest economy may be entering a recession.

A technical recession is defined as two consecutive quarters of negative growth, and Germany saw a 0.1% drop in the second quarter, from April to June.

In its monthly report Monday, the Bundesbank said with falling industrial production and orders, it appears that the slump likely continued through the summer.

It says ``the overall economic performance could decline slightly once again. Central to this is the ongoing downturn in industry.''

The Bundesbank says the trade conflict between the U.S. and China, Brexit and other issues have hampered Germany's export-dependent economy, though it's still expected to post growth over the full year.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.