Germany misses recession by a whisker
Europe’s biggest economy is feeling the pinch of a sluggish global economy and trade disputes, and the ever-closer Brexit
Berlin — The German economy stalled in the final quarter of last year, narrowly escaping recession, as the fallout from global trade disputes and Brexit threatens to derail a decade-long expansion in Europe’s economic powerhouse. GDP in Europe’s biggest economy was unchanged for the quarter, the German Federal Statistics Office said on Thursday. A Reuters poll had forecast growth of 0.1%. German companies are grappling with a cooling global economy and trade disputes triggered by US President Donald Trump. It also faces the risk that Britain will leave the EU in March without an agreement on the terms of its withdrawal. “Germany got away with a black eye,” DekaBank economist Andreas Scheuerle said of the fourth-quarter numbers. “But the first quarter is not looking like it is going to be easy either, as political uncertainties are weighing heavily on corporate confidence.” With growth unchanged in the fourth quarter, the economy escaped recession — defined as two or more consecutive...
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