The German economy Sputtering, but not dying

摘要

A year ago, the German economy seemed at last to have shaken off the sluggishness of the 1990s. Exports, notably to the thriving United States, were roaring. The prospect of tax cuts cheered companies and consumers alike. Not today. As world stockmarkets fell, Frankfurt's fell as hard as any. Business confidence has waned. Industrial output and orders have dropped sharply. Unemployment has risen a little every month this year. No wonder economists have been hacking back their forecasts for gdp growth. Some Jeremiahs have even spoken of recession.