Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Europe?s biggest economy in recession

Staff Reporter 1 minute read

Germany is officially in recession after recording negative growth of 0.5 per cent in the September quarter.

The contraction followed negative 0.4 per cent growth in the second quarter this year.

Meanwhile the Organisation for Economic Cooperation and Development (OECD) said overnight that the developed world was likely already in a recession, where it would remain into 2009.

The OECD projected OECD countries’ GDP would shrink 0.3 per cent in 2009 before recovering slightly to growth of 1.5 per cent in 2010.

Unemployment in OECD countries was forecast to rise to 7.2 per cent in 2010.

Advertisement
Advertisement

Published: 14-11-08

Today's other news

Europe?s biggest economy in recession
default
TheAdviser logo
default
more from the adviser
first home buyers ta Brokers wrote half of FHLDS loans

The latest figures for the FHLDS suggest that brokers assisted in...

percent arrow down ta Low repayment loan for brokers launches

Specialist lender TrailBlazer Finance has launched a new low repa...

handshake contract ta PLAN bolsters lending panel

The aggregator has announced the addition of Better Choice Home L...

FROM THE WEB