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

German Central Bank Suggests Economy May be in Recession

Monday, 19 August 2019 10:38 AM

BERLIN (AP) — 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.

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 This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
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,...
APFN,EU,Germany,Economy
132
2019-38-19
Monday, 19 August 2019 10:38 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