German GDP falls 3.8% in first quarter of 2009 - - the steepest contraction since at least 1970; Down 6.7% in 12-month period
May 15th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The German federal statistics office Destatis, today reported the downward trend of the German economy accelerated in the first quarter of 2009. The gross domestic product (GDP) fell 3.8% in the first quarter of 2009, compared with the fourth quarter of 2008 when it declined 2.2%. The 12-month fall was 6.7%.