German Exports Drag Economy to First Contraction Since 2015

Germany’s first economic contraction since 2015 was led by a drop in exports and private consumption, a trend that needs to be reversed if the Europe’s largest economy is to rebound before the end of the year. The 0.2 percent decline in the third quarter, matching the initial reading, has been blamed on a slump in the auto industry that the Bundesbank and government predict will be temporary. Source: Bloomberg

Euro-Area Economy Grows Least in Four Years as Germany Drags

Euro-area growth slowed in the third quarter, held back by a contraction in Germany, its biggest economy. Gross domestic product grew 0.2 percent, matching an initial estimate, but half the pace recorded in the previous period, Eurostat said Wednesday. Industrial production declined 0.3 percent in September, the second decline in three months, with the biggest falls coming in energy and non-durable consumer goods. Source: Bloomberg