Germany on brink of recession | Business – The Times



A worker at a car parts maker in Nuremberg. Factory output fell by 5.2 per cent in the year to JuneREUTERS

Germany is teetering on the edge of recession after the economy shrank in the three months to June and its factories were hammered by global trade wars.

German gross domestic product contracted by 0.1 per cent in the second quarter, less than the 0.2 per cent fall recorded by the UK last week but the worst by any eurozone state for which figures have been reported. Overall, eurozone growth halved in the three-month period to 0.2 per cent from the first quarter.

A decline was expected in Germany, the currency bloc’s biggest economy, after it posted the weakest industrial production figures since the financial crisis last week, which showed that factory output had fallen 5.2 per cent in the year to June. German exports have…

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