Source: ForexYard
Germany released its GDP numbers this morning and revealed that fourth quarter shrinkage was not as severe as some forecasts predicted. German GDP was down 0.2% after growing by 0.6% in the third quarter of last year. While the news is certainly nothing to celebrate, many analysts are confident in the overall health of the German economy. Unemployment levels remain at their lowest point in two decades and the country is still the main player on the European stage.
There still remains the looming Greek debt crisis that threatens to hamper several economies in the euro zone, as we have seen with Spain and Belgium being dragged down into economic downturns. However, German ministers expressed their confidence that their economy would have the durability to withstand such risks.
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