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Germany’s economy just shrank, meaning Europe’s biggest economy is ‘teetering on the edge of recession’

German soccer fansReuters/Hannibal Hanschke

  • Germany's economy shrank 0.1% in the second quarter, driven by a decline in exports due to the US-China trade war.
  • The slowdown is bad news given Germany is Europe's largest economy and a key player in the eurozone.
  • The contraction comes after the UK economy shrunk last week for the first time since 2012 due to Brexit fears, underlining how political uncertainty is weighing on Europe.
  • View Markets Insider's homepage for more stories.

Germany's economy shrank by 0.1% in the three months to June, signaling a recession could be looming.

The decline marks a sharp swing from the 0.4% growth it recorded in the first quarter of 2019, according to Statistisches Bundesamt, the Germany's statistics office. As a result, Europe's biggest economy grew by 0.4% in the year to June, its slowest pace in six years, according to the Financial Times.See the rest of the story at Business Insider

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