The golden age for the German economy is now coming to an end.
The second quarter GDP rate of Germany was 0.1% less in comparison with its first quarter rate.
“Today’s GDP report definitely marks the end of a golden decade for the German economy,” according to Carsten Brzeski, Germany’s chief economist.
Germany was on the receiving end of tolls from the recent US-China trade conflict as it relies on exporters that sell large sums of goods to the conflicting countries.
The recent slump in the car market also hurt Germany’s economic growth as well as the impending “no-deal Brexit” doom.
Dubbed as Europe’s largest economy and fourth in the world, Germany is now starting to see its end in a decade-long economic rise.
A sequel to the US-China trade war might put a lot of pressure on Germany to meddle and its government to spend more money to stir economic activities.
Andrew Kenningham, chief Europe economist of Capital Economics prompted a dark future for the German economy saying, “The bottom line is that the German economy is teetering on the edge of recession.”
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