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Archive for November 13th, 2008

This isn’t good news for anyone, but I am curious to see how this will impact the exchange rate. The dollar has improved some in the last few weeks and given me a little hope, but a world-wide recession might wipe out any recent gains. I don’t even want to think of the impact a recession will have on the job market.

From Der Spiegel

Most knew it was coming. But on Thursday, Germany’s Federal Statistical Office announced that the economy is now in recession, with third-quarter data even worse than expected. The figures aren’t much different elsewhere, with the OECD reporting the industrialized world is slipping into recession.

Everyone knew it was coming. But on Thursday, Germany’s Federal Statistical Office made it official: the country is in a recession. In the third quarter, Germany’s gross domestic product shrank by 0.5 percent relative to the previous quarter. Most economists define a recession as two quarters of negative growth in succession.

 

The German economy is not doing well these days.

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