(ANSA-AP) - BERLIN, 19 AUG - 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.
(ANSA-AP).
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