Last updated on November 14, 2019
GDP figures published this morning reveal Germany has avoided falling into recession.
The Federal Statistical Office announced this morning that the market had increased by 0.1percent in the next quarter of 2019. After
The unexpected consequences were mostly down to an increase in state and private consumer spending in addition to a little growth in exports following a period of downturn.
Approximately 50 percent of Germany’s GDP is export-based, which makes it among the very export-reliant markets on the planet and leaving it particularly prone to global financial changes.
Lots of economists had anticipated a technical downturn as the ramifications US-China commerce war took their toll. China is a significant buyer of German-manufactured cars, it is commerce is widely regarded as crucial to the German auto industry – over 77 percent of automobiles produced from the nation exported.
The results imply that Berlin, and indeed the broader Eurozone, prevent the fear label of downturn, but it important financial challenges to Germany stay.