Economic Slowdown Plagues Europe’s Strongest
Isn’t Europe relying on German economic growth to stay on its feet? In a sucker punch, Germany’s economy — responsible for more than 25 percent of the euro zone’s output — contracted 0.2 percent in the second quarter, prompting continental groans. And in further blows, France’s economy failed to impress, with GDP remaining stagnant below 0.1 percent growth predictions, while Italy — Europe’s third-largest economy — retreated into recession. Unsurprisingly, the euro fell this morning, along with European hopes for recovery.