Related News
Germany may avoid recession as growth seen
Source: Agencies |
February 19, 2013, Tuesday
|
Print Edition
Print Edition
GERMANY'S central bank says the country's economy is on track to avoid a recession as it shows signs of growth in the first three months of the year.
Europe's largest economy shrank 0.6 percent in the last quarter of 2012. Two straight quarters of falling output is a common definition of recession.
The Bundesbank says in its monthly report out yesterday that increasing business optimism and easing fears about the government debt crisis among the 17 European Union euro countries mean business may become more willing to invest and expand. That means that "a plus in total economic production can be expected for the first quarter of 2013."
A growing German economy could help speed the eurozone's recovery, which is mired in recession. Governments are cutting spending and raising taxes to reduce heavy levels of debt, slowing their economies.
Greece, Portugal and Ireland have needed bailout loans from the other eurozone members, while Spain and Italy are in recession with high unemployment.
The European Central Bank says the eurozone will fall 0.3 percent in 2013 and only start to recover later in the year.
Europe's largest economy shrank 0.6 percent in the last quarter of 2012. Two straight quarters of falling output is a common definition of recession.
The Bundesbank says in its monthly report out yesterday that increasing business optimism and easing fears about the government debt crisis among the 17 European Union euro countries mean business may become more willing to invest and expand. That means that "a plus in total economic production can be expected for the first quarter of 2013."
A growing German economy could help speed the eurozone's recovery, which is mired in recession. Governments are cutting spending and raising taxes to reduce heavy levels of debt, slowing their economies.
Greece, Portugal and Ireland have needed bailout loans from the other eurozone members, while Spain and Italy are in recession with high unemployment.
The European Central Bank says the eurozone will fall 0.3 percent in 2013 and only start to recover later in the year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
