http://www.straitstimes.com/Breaking...ry_323551.html
"Mr Kraemer said the collapse in exports underpinned his bank's forecast that German output would decline by a record 2.0 per cent in the fourth quarter of 2008 from the previous three-month period. "
A 2% fall in the quarter. This is worse than the UK.
It turns out that an over reliance on exports is not a clever strategy when the gloabalised economy contracts at the same time.
"Mr Kraemer said the collapse in exports underpinned his bank's forecast that German output would decline by a record 2.0 per cent in the fourth quarter of 2008 from the previous three-month period. "
A 2% fall in the quarter. This is worse than the UK.
It turns out that an over reliance on exports is not a clever strategy when the gloabalised economy contracts at the same time.
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