German economy set to shrink dramatically this year, think tank says

Author (Corporate)
Series Title
Series Details 15.4.09
Publication Date 15/04/2009
Content Type

As the economic gloom spreads in Germany, slumping exports - a pillar of the country's economy - have been dragging down growth, making reliable forecasts next to impossible. Europe's largest economy is poised to shrink nearly 5% in 2009, says the German Institute for Economic Research, (DIW Berlin). The downward spiral is essentially due to a 12.9% slump in exports, the institute says.

Source Link http://www.dw-world.de/dw/article/0,,4180927,00.html
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Website: German Institute for Economic Research (DIW Berlin) http://www.diw.de/english

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