Germany enters into a recession
According to preliminary data, which could yet be revised, the German economy has just about avoided entering a technical recession.
It means Germany was on the verge of registering two consecutive quarters of negative economic growth. Some data suggested it had entered into recession. This is despite the fact that Germany is Europes strongest economy. Some experts, however, are not surprised. They say the signals have been in the air for some time now. Others are surprised by the decline in the German economy. They argue the EURO CURRENCY had been designed to safeguard countries like Germany. The situation in Germany reflects that of the wider EURO region. Individuals, companies and government agencies appear to be spending less on goods and services. Eurozone officials argue the economy is slowing mainly as a result of what they describe as developing political risks. They are urging politicians in the region to address these issues.
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