Germany's economy just shrank, meaning Europe's biggest economy is 'teetering on the edge of recession'

markets.businessinsider.com | 8/14/2019 | Staff
shardonay (Posted by) Level 3
Germany's economy shrank 0.1% in the second quarter, driven by a decline in exports due to the US-China trade war.

The slowdown is bad news given Germany is Europe's largest economy and a key player in the eurozone.

Contraction - UK - Economy - Shrunk - Week

The contraction comes after the UK economy shrunk last week for the first time since 2012 due to Brexit fears, underlining how political uncertainty is weighing on Europe.

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Germany - Economy - Shrank - % - Months

Germany's economy shrank by 0.1% in the three months to June, signaling a recession could be looming.

The decline marks a sharp swing from the 0.4% growth it recorded in the first quarter of 2019, according to Statistisches Bundesamt, the Germany's statistics office. As a result, Europe's biggest economy grew by 0.4% in the year to June, its slowest pace in six years, according to the Financial Times.

Decline - Slump - Exports - Demand

Much of the decline was driven by a slump in exports, which have suffered from tempered demand due to the...
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