German Economy Contracts But Beats Estimates

Nasdaq – The German economy, the largest in Europe, contracted in the fourth quarter of last year slightly less than expected, confirming expectations that it is not heading into a recession this year. “Of course, a quick rebound is not a certainty and the big unknown for the German economy remains the sovereign debt crisis. One thing, however, is obvious: today’s numbers are no reason at all to start singing swan songs on the German economy,” said Carsten Brzeski, economist at ING Bank in Brussels. Read Article