German economy on brink of recession: institutes
The German economy, Europe's biggest, is on the brink of recession, leading economic think tanks said Tuesday, forecasting growth of only 0.2 per cent in 2009.
By Agencies |
BERLIN: The German economy, Europe's biggest, is on the brink of recession, leading economic think tanks said Tuesday, forecasting growth of only 0.2 per cent in 2009.
"In the autumn of 2008, the German economy is on the brink of a recession," the six institutes wrote in their latest economic outlook.
They predicted that German gross domestic product (GDP) would expand by 1.8 percent for the whole of 2008, much slower than last year's growth of 2.5 per cent. And in 2009, GDP was set to expand by just 0.2 per cent, the report stated
"In the autumn of 2008, the German economy is on the brink of a recession," the six institutes wrote in their latest economic outlook.
They predicted that German gross domestic product (GDP) would expand by 1.8 percent for the whole of 2008, much slower than last year's growth of 2.5 per cent. And in 2009, GDP was set to expand by just 0.2 per cent, the report stated
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