×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: EU | Germany | Economy

German Economy Shrinks amid Trade Concerns, Auto Woes

Wednesday, 14 August 2019 02:38 AM

FRANKFURT, Germany (AP) — The German economy shrank by 0.1 percent in the second quarter as global trade conflicts and troubles in the auto industry weighed on Europe's largest economy.

The state statistics agency Destatis said Wednesday that falling exports had weighed on output while demand from consumers and government spending at home had supported the economy.

Germany's economy is facing headwinds as its auto industry, a key employer and pillar of growth, faces challenges adjusting to tougher emissions standards in Europe and China. The industry has also suffered from the U.S.-China trade conflict that has added tariffs on cars made by German companies in the U.S and shipped to China, while uncertainty over the terms of Britain's planned exit from the EU has weighed on confidence.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
The German economy shrank by 0.1 percent in the second quarter as global trade conflicts and troubles in the auto industry weighed on Europe's largest economy.The state statistics agency Destatis said Wednesday that falling exports had weighed on output while demand from...
EU,Germany,Economy
126
2019-38-14
Wednesday, 14 August 2019 02:38 AM
Newsmax Media, Inc.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

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