Shrinking exports held back German economic activity in the fourth quarter of la...
BERLIN - Shrinking exports held back German economic activity in the fourth quarter of last year, detailed data showed on Tuesday, confirming that Europe’s largest economy was stagnating even before the coronavirus outbreak began.
The Federal Statistics Office said exports fell by 0.2% in the fourth quarter from the third, which meant that net trade took off 0.6 percentage points from gross domestic product growth. State consumption added 0.1 percentage points to growth while private consumption, which has been a key pillar of support recently, made no contribution.
Andrew Kenningham, an analyst from Capital Economics, said the German economy would continue to stagnate during the first half of this year as global demand would remain weak and domestic investment was likely to drop.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
German SPD, Greens seek state vote win after Merkel party crisisA leadership crisis in Chancellor Angela Merkel's conservative party could ...
Les mer »
German Carnival floats take aim at racism in wake of attackBiting commentary on racism in Germany is featuring prominently among Carnival floats in western cities, hastily put together in the aftermath of a deadly far-right attack last week near Frankfurt.
Les mer »
Car drives into German carnival parade, around 30 injured: policeAround 30 people were injured on Monday after a car plowed into a carnival parad...
Les mer »
Dozens hurt as car plows into German carnival paradeA German man plowed his car into a carnival parade in the western town of Volkma...
Les mer »
Motive of German driver in 'terrible' carnival incident still unclear: ministerGerman police have no indications for a motive and continue to investigate all p...
Les mer »