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Business News/ Opinion / Online-views/  German economy now in recession
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German economy now in recession

German economy now in recession

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AP

Berlin: New government data show that the German economy is officially in recession. Europe’s biggest economy recorded negative growth for a second consecutive quarter in the third quarter.

The Federal Statistical Office said Thursday that gross domestic product contracted by 0.5% in the July-September period compared with the previous quarter.

The economy contracted by 0.4% in the second quarter - its first decline since late 2004.

A technical recession is defined as two consecutive quarters of negative growth.

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Published: 13 Nov 2008, 03:53 PM IST
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