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Germany has narrowly prevented a technical recession after it posted flat progress within the fourth quarter, elevating issues that Europe’s largest economic system is continuous to decelerate.
Preliminary knowledge confirmed progress of 0.Zero p.c within the fourth quarter from the earlier quarter, Germany’s federal statistics workplace Destatis stated Thursday, beneath a Reuters forecast of 0.1 p.c..
Destatis added that “optimistic contributions” within the fourth quarter got here from home demand “nonetheless, growth of international commerce didn’t make a optimistic contribution to progress within the fourth-quarter.”
The most recent progress knowledge from Germany come after a interval of home tumult, notably for its beleaguered automotive business, and international issues over commerce, import tariffs and progress.
The flat fourth quarter knowledge reveals that Germany has narrowly prevented a recession – outlined as two consecutive quarters of declining progress. It doesn’t bode properly for Europe, nonetheless, which sees Germany as a conventional progress driver within the area.
“After a dynamic begin into the primary half of the yr (+0.four p.c within the first quarter, +0.5 p.c within the second quarter), a small dip (-0.2 p.c within the third quarter, 0.Zero p.c within the fourth quarter) was recorded within the second half of the yr. For the entire yr of 2018, this was a rise of 1.four p.c,” Destatis stated.