Germany, Industrialized World Enter Recession
Germany's Federal Statistical Office has announced that the economy is now in recession, with third-quarter data even worse than expected. The figures aren't much different elsewhere, with the OECD reporting the industrialized world is slipping into recession.
Everyone knew it was coming. But on Thursday, Germany's Federal Statistical Office made it official: the country is in a recession. In the third quarter, Germany's gross domestic product shrank by 0.5 percent relative to the previous quarter. Most economists define a recession as two quarters of negative growth in succession. Full Story »
Posted by Kaizar Campwala
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