Latest News:  

English>>Business

Germany may avoid recession as growth seen

(Shanghai Daily)

14:24, February 19, 2013

GERMANY'S central bank says the country's economy is on track to avoid a recession as it shows signs of growth in the first three months of the year.

Europe's largest economy shrank 0.6 percent in the last quarter of 2012. Two straight quarters of falling output is a common definition of recession.

The Bundesbank says in its monthly report out yesterday that increasing business optimism and easing fears about the government debt crisis among the 17 European Union euro countries mean business may become more willing to invest and expand. That means that "a plus in total economic production can be expected for the first quarter of 2013."

A growing German economy could help speed the eurozone's recovery, which is mired in recession. Governments are cutting spending and raising taxes to reduce heavy levels of debt, slowing their economies.

Greece, Portugal and Ireland have needed bailout loans from the other eurozone members, while Spain and Italy are in recession with high unemployment.

The European Central Bank says the eurozone will fall 0.3 percent in 2013 and only start to recover later in the year.

We recommend:

Macao embraces peak tourist season

Sweet smell of profit if it's an Internet domain

Sina seeks new revenues while battling WeChat

American create world's biggest airline

Robot pavilion opens to public at Taipei

Ministry acts on dairy safety

Email|Print|Comments(Editor:MaXi、Liang Jun)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Female sailors hold combat positions

  2. Chinese flotilla sets sail on escort missions

  3. Highlights of Madrid Fashion Show

  4. China's weekly story (2013.2.8-2.15)

  5. Beauties at Beijing Film Academy enrollment site

  6. Fact check on Russian meteorite crash

  7. Happy big brother has birthday cake

  8. Chocolate fantasy park offers entertainment

  9. 3D printing reshapes manufacturing

  10. HK Disney's 1st profit since opening

Most Popular

Opinions

  1. The weakening yen's impact on China
  2. Young climbers aim too high in China
  3. China Focus: Festive traditions disrupt green efforts
  4. Chinese distrust strangers, lack shared values
  5. How to face wrestling's removal from Olympics?
  6. Discontents of demography
  7. Online ambitions could elude mid-level brands
  8. Human rights progress as a matter of fact
  9. Millions on the move
  10. US to withdraw from Middle East?

What’s happening in China

Auto-chat app sparks social skills concern: A littile yellow chicken can talk, really?

  1. Psy attracts 9 million followers on Sina Weibo
  2. Child defecating in airplane causes outrage
  3. Uniforms recalled over toxic chemicals
  4. Probe unearths no pollution
  5. Labor shortage worsens as migrants stay home