Get Annual plan at only Rs 289. "There will be a stagnation in the third quarter at best," Klaus Wohlrabe said, adding that this would also apply for final gross domestic product (GDP) figures for the second quarter, which Germany's statistics office is due to release on August 27.
Reuters
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Germany is facing a recession, an economist at Germany's Ifo economic institute said on August 26, as the institute's business climate index fell to its lowest level since August 2012.
"There will be a stagnation in the third quarter at best," Klaus Wohlrabe said, adding that this would also apply for final gross domestic product (GDP) figures for the second quarter, which Germany's statistics office is due to release on August 27.
"We are facing a recession," he told Reuters.
Wohlrabe added that although the business climate improved in Germany's struggling auto industry, it significantly deteriorated in the engineering, chemicals and electrics sectors.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.
First Published on Aug 26, 2019 03:35 pm
