Boom and Bubble Blog

An analysis of US economic trends and their relations with world development dynamics

Wednesday, February 16, 2005

Germany, Italy Post Drop in GDP as EU Stumbles - Feb 16, 2005

Europe's long struggle towrd ecn recovery hit a surprise setback after Germany and Italy published unexpected declines in gdp for the last q. 2004. Germany contracted 0.2% in the 4th quarter. Italy's shrank 0.3%. The Netherlands also shrank by 0.1%...
The German stats office blamed weak domestic demand for the contraction in German gdp, saying exports had performed well despite the strong euro.

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