German economy with first drop from 4 years
In the second quarter of 2008 the economy of Germany droped for the first time in four years. The Gross Domestic Product of the country is 0.5% lower as compared with the first quarter of the year, announced the national statistical office, quoted by Shpigel Online. This decrease corresponds to the expectations of macroeconomists, who provided a lower score mainly because of economic decrease in the construction sector.
During the first three months of the year GDP main indicator of the value created inside the country's production has rose by 1.3%. According to an annual weighted data in the second quarter of 2008 the economy of West Germany increased with 1.7%. The problems of the German economy are too expensive EUR, growth in inflation and fall in demand globally. After the 2.5% economic growth in 2007, German statisticians expect this year to GDP increased by 1.7% and in 2008 - by 1.2%. Probably when 11 hours of Luxembourg EU statistical office Eurostat announced data on economic growth in the euro zone, to understand the first decrease in GDP in Europe since EUR was put into circulation.
Euro falls against dollar significantly yesterday and is razmenyashe around $ 1.4843 - and still for the last 12 months euros increased by 10% its value against the U.S. dollar.
Labels: Financial News
posted by Zoritza Petrova @ 12:00 AM
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