Germany predicts shrinking economy

advertisement

BERLIN — The German government has forecast that the country's economy will shrink by 2.25 percent this year. That would be its worst performance since World War II.

The government on Wednesday cut its 2009 forecast sharply from its prediction in mid-October of 0.2 percent growth.

Official data since then have shown a sharp decline in exports — a key driver of the Germany economy, Europe's largest.

The government predicted exports will drop 8.9 percent this year.

The worst postwar annual economic performance to date was a 0.9 percent decline in West Germany's gross domestic product in 1975.

  • 0 Votes
  • Enjoy this article? Help vote it up the 'Vine.

Back To Top

Published to:

{"canLink":false,"threadId":0,"isPrivate":false}
Leave a Comment:
You're in Easy Mode. If you prefer, you can use XHTML Mode instead.
As a new user, you may notice a few temporary content restrictions. Click here for more info.
{"threadId":0,"contentId":"2309447"}
Start TrackingStart Tracking
Stop TrackingStop Tracking