Germany’s economy will contract 2.2% in 2009 and 0.2% in 2010; Ifo says the world economy is experiencing a massive downturn
Dec 11th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Germany’s economy will contract 2.2% in 2009 according to the Ifo Institute for Economic Research at the University of Munich and the contraction will continue into 2010, with gross domestic product declining 0.2 percent, underlining fears that the recession will be the worst since World War II in Europe’s biggest economy. The Ifo said the world economy is experiencing a massive downturn.