Monday , June 14 2021

The German economy is shrinking for the first time in three years. now



The German economy fell 0.2 percent in the third quarter compared to the first quarter. This is reflected in the preliminary figures of the German National Statistical Office.

This is the first contraction of the German economy since the first quarter of 2015.

According to the National Statistical Office, there was a 0.2% contraction compared with 0.5% growth in the second quarter of this year. Economists fell by an average of 0.1%. On a yearly basis, Europe's largest economy grew by 1.1% compared to 2.3% of the previous period.

The German economy is tense in world trade and putting pressure on exports. In addition, the German automobile industry has ceased production due to new emission requirements. Consumer spending in Germany is also less powerful.

For the time being, the German government expects an overall 1.8% economic growth in 2018. Germany's economy grew 2.2% in 2017.

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