Germany May Have Entered Recession In September, Says Central Bank

Germany’s central bank warned the country’s economy may have shrunk for its second consecutive three-month period, which would mean the eurozone’s biggest economy has entered its first recession in six years, the Financial Times reported. The Bundesbank, however, said in its monthly report: “A recession in the sense of a clear, broad-based and sustained decline in economic management with underutilised capacity has not yet been apparent.” The German economy declined 0.1 per cent in the three months to June and the situation has shown few signs of improvement since then, as the US-China trade war, uncertainty over Brexit and disruption in the car industry continue to weigh on growth. The technical definition of a recession is when there are two consecutive quarters of negative growth. Read more