Sales abroad of Europe’s largest economy fell 5.8% on month in seasonally adjusted data, said the Federal Statistics Office. Not since January 2009, amid the global economic crisis, to find a drop of this magnitude. Destatis attributed to late summer vacation – concentrated in August this year – some of this fall, some companies have closed down and did not suddenly sold abroad
. THE ENGINE IS IN GERMAN TRAIN TO BLOCK?
This argument calendar has also been put forward to explain a drop in factory orders and production, announced on Monday and Tuesday. But it is only partially causing the bit of slack in the German economy, in which Ukraine crisis, unrest in the Middle East, slowing growth in China and sluggish eurozone give thread trouble.
GDP growth this year is expected to reach only 1.4%, said earlier this week the IMF, which was counting on 1.9% previously. In their traditional autumn publication, the four major German economic institutes (Ifo, DIW, IWH and RWI) are waiting for 1.3% GDP growth. They still had forecast a rise of 1.9% in their latest publication in April
Read our explanations. The slowdown of the German economy worries Europe
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