‘We Finally Have A Number’: German Economy Logs Largest Contraction In Recorded History

‘We Finally Have A Number’: German Economy Logs Largest Contraction In Recorded History

"Massive slump" -- that's how Germany's Federal Statistical Office described the worst quarterly performance on record for the world's fourth-largest economy. "The crisis finally has a number", ING declared, in a quick reaction note. That number is 10.1%, and it represents the biggest contraction since the beginning of quarterly GDP calculations for Germany in 1970. By comparison, the German economy slumped "just" 4.7% in the first quarter of 2009, during the financial crisis. The YoY prin
Every story you need, no story you don't. It's that simple. Get the best daily market and macroeconomic commentary anywhere for less than $7 per month. Subscribe or log in to continue.

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.

NEWSROOM crewneck & prints