Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

German economy 'over the worst': ministry  Join our daily free Newsletter

MENAFN - AFP - 11/02/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - AFP) Germany's economy, the biggest in Europe, should see brighter days ahead after tumbling in the fourth quarter of last year, the economy ministry said on Monday in its regular monthly report."The prospects for the German economy are gradually improving. Forward-looking indicators point to a possible end to the current weak phase," the report said."The low point of the global economic weakness appears to be already past," the ministry added, noting also that the situation on the international financial markets had also calmed considerably.Broadly speaking, the German economy has weathered the eurozone debt crisis better than many of its neighbours.But with a large part of its all-important exports going to fellow eurozone countries, Germany has not been immune to the turbulence and gross domestic product expanded by a mere 0.7 percent last year after 3.0 percent in 2011.And the economy seemed to have slammed abruptly into reverse in the fourth quarter of the year, as officials estimate a contraction of 0.5 percent, raising fears Europe's powerhouse could slip into recession.The economy ministry acknowledged that "weak construction and industrial activity indicate a drop in total economic activity in the final quarter of 2012" but stressed this low point should be "quickly overcome."Official figures for the fourth quarter are due to be published on Thursday.In recent weeks, confidence indicators have pointed to a recovery, notably the closely watched Ifo business sentiment index, which rose to a seven-month high in January.Consumer confidence also rose in January while the labour market continued to show its resilience by falling to a four-month low in January on a seasonally adjusted basis.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help