German and French economies shrink ahead of European Central Bank interest rate decision – business live
Live coverage of business, economics and financial news as ECB expected to cut interest rates by 0.25 percentage points in effort to support growth
Germany has now gone two consecutive years with a shrinking economy.
The only reason that it has not been called a “recession” so far is that by convention that word applies to two consecutive quarters of contraction. As the below quarterly GDP chart from Trading Economics shows, the country has narrowly avoided that fate over the last nine quarters. Continue reading...
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