Tags: EU | Germany | Economy

Report: German Economy to Shrink Amid Harsh Winter

Thursday, 11 Mar 2010 08:37 AM

A leading German think-tank says it expects the country's economy — Europe's biggest — to contract in the first quarter because of an unusually harsh winter.

The IfW group said Thursday that the economy should make up for the expected contraction in first-quarter gross domestic product during the rest of 2010.

IfW says it is sticking to a forecast that GDP will grow by 1.2 percent for the year as a whole. It predicts a "noticeable" first-quarter contraction but doesn't give a precise figure.

Germany's economy returned to modest growth last year after a sharp recession, but stagnated in the fourth quarter.

The country has seen persistent snow and subzero temperatures since the new year — a combination that tends to weigh on sectors such as construction.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
1Like our page
2Share
Economy
A leading German think-tank says it expects the country's economy Europe's biggest to contract in the first quarter because of an unusually harsh winter.The IfW group said Thursday that the economy should make up for the expected contraction in first-quarter gross...
EU,Germany,Economy
124
2010-37-11
Thursday, 11 Mar 2010 08:37 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved