German Recession May Have Already Started

24/7 Wall St.

GermanyThe German Federal Statistics Bureau (Destatis) reported that the country’s gross domestic product (GDP) barely grew in the first quarter. If the balance of the world’s developed economies is any use as a bellwether, the current quarter will be worse. In other words, the largest economy in Europe by GDP may be back in recession.

Destatis said of Germany’s GDP:

The German economy is slow in gaining momentum. Compared with the previous quarter, the gross domestic product (GDP) increased by 0.1% in the first quarter of 2013 after adjustment for price, seasonal and calendar variations.

The data were immediately put next to that of France for the same period, which show that a new recession in France is underway. INSEE (The National Institute of Statistics and Economic Studies) reported on French GDP:

In Q1 2013, French growth domestic product (GDP) in volume decreased again: –0.2% after –0.2% in…

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