The economy moved into recession in the third quarter of 2008, and by the first quarter of 2009, when GDP ..."> The economy moved into recession in the third quarter of 2008, and by the first quarter of 2009, when GDP ..."/>
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Country Report Germany

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The economy moved into recession in the third quarter of 2008, and by the first quarter of 2009, when GDP contracted by 6.9% year on year, Germany was experiencing its worst recession on record. Some indicators suggest that a floor may have been reached. GDP is expected to shrink by 5.3% in 2009 and bay a further 0.9% in 2010. Towards the second half of 2010 we expect the recovery to begin, but it will be tentative and is not expected to gather real steam until after the end of outlook period. The weak global economic conditions are having, and will continue to have, a strongly negative effect on demand for exports, which account for an unusually large proportion of GDP for an economy as large as Germany's (the country is the largest exporter of goods in the world). Export demand has been in a state of collapse since October 2008 and we expect export volumes to contract by a record 12.1% in 2009. Given that we believe that consumer demand in Germany will not to be as badly affected by the downturn as in many other developed economies-because of strong household balance sheets, non-reliance on credit for consumption purposes and the absence of asset price bubbles-import growth will fall less sharpy than exports. As a result, the external balance will become a large drag on overall GDP growth.

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1985.1
Tersedia
Informasi Detail
Judul Seri
-
No. Panggil
330.943.05 EIU c
Penerbit
London : Economist Intellence Unit (EIU).,
Deskripsi Fisik
27 cm x 21 cm, 38 hlm
Bahasa
Inggris
ISBN/ISSN
-
Klasifikasi
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Tipe Isi
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Tipe Media
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Tipe Pembawa
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Edisi
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Subjek
Economic Report - Jerman
Info Detail Spesifik
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