Recession forecast for Germany in Q3 and Q4

摘要

The largest economy in the euro zone is slowing down - an indication of the severity of the debt crisis in Europe. A report from the.OECD (Organization for Economic Co. Operation and Development) suggests that the German economy growth engine of the euro zone will shrink by 0.5% in the third quarter and 0.8% in the fourth quarter of 2012. However, given the country's much stronger performance in the first half of the year, the OECD estimates that overall, the German economy will grow by 0.8% this year.