Mexican Media Brands
Germany’s Economy Posts Quarterly Decline
Germany says its economy has shrunk for the second time in four quarters, contracting 0.1% in April-June compared with the previous three months.
#economics
Share
Germany says its economy has shrunk for the second time in four quarters, contracting 0.1% in April-June compared with the previous three months.
The second-quarter decline cuts Germany’s economic growth rate through the first half of 2019 to 0.4%, according to the Federal Statistics Office.
The country’s service and construction sectors remain relatively robust for now. Unemployment is low, and spending by consumers and government grew.
But analysts describe the outlook for Germany’s all-important export business and the manufacturing base that supports it as “ominous.” The results of several manufacturing outlook surveys turned pessimistic. One example: Yesterday’s ZEW Indicator of Economic Sentiment among Germany’s financial exports plunged 20 points to a nine-year low of minus 44.1 because of worries about trade.
The government notes that exports slowed more quickly than imports in the second quarter. Chancellor Angela Merkel remains optimistic that Germany’s economy will post a modest gain this year.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.