Germany's central bank, the Bundesbank, is reporting the country's economy will contract by 6.2 percent in 2009 as a result of the global economic crisis. A recovery is expected to start in 2010, but economists warn Germany will struggle at least until 2013. After a disastrous first quarter, a new forecast from Germany's central bank, the Bundesbank, indicates pressure on the German economy will lessen later in 2009. "The German economy is currently in a sharp recession," the bank said in a statement on Friday. "Downward pressure on the German economy is likely to ease during the course of 2009." Still, any kind of upturn isn't expected until 2010.
Germany's central bank, the Bundesbank, is reporting the country's economy will contract by 6.2 percent in 2009 as a result of the global economic crisis. A recovery is expected to start in 2010, but economists warn Germany will struggle at least until 2013.
After a disastrous first quarter, a new forecast from Germany's central bank, the Bundesbank, indicates pressure on the German economy will lessen later in 2009. "The German economy is currently in a sharp recession," the bank said in a statement on Friday. "Downward pressure on the German economy is likely to ease during the course of 2009." Still, any kind of upturn isn't expected until 2010.
