Bundesbank: German Economy Enters Recession

Business » FINANCE | August 19, 2019, Monday // 16:00| Views: | Comments: 0
Bulgaria: Bundesbank: German Economy Enters Recession

There was a 0.1% decline in GDP in the second quarter of this year.

The German economy will enter a recession in the third quarter due to the "sharp" decline in industrial production due to tensions in international markets, Bundesbank warned.

"The economy may shrink again this summer," the central bank said in a monthly report. The document shows that a 0.1% decline in gross domestic product was recorded in the second quarter of this year.

"According to current data, industrial production is expected to shrink in the current quarter," the financial institution said.

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Tags: Bundesbank, recession, finance, Germany
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