Slowdown: Gross domestic product in the German economy fell 0.1% in the third quarter
Germany is on the brink of recession having narrowly avoided one last winter.
Gross domestic product in Europe’s largest economy fell 0.1 per cent in the third quarter. Another quarter of decline would leave it in recession.
Germany avoided recession last winter but has been dubbed ‘the sick man of Europe’.
‘The German economy has become one of the growth laggards of the eurozone,’ said Carsten Brzeski, economist at ING.
Commerzbank expects the German economy to contract over the winter.
And Pantheon Macroeconomics chief eurozone economist Claus Vistesen added: ‘Germany’s economy is now firmly stuck in the mud.’