For much of the financial crisis that started in 2007, Germany remained strong and held the envy of modern economies around the world.
In 2010, the industrious country known for its fiscal discipline had GDP growth of 4.2%, followed by respectable 3% GDP growth in 2011.
Unfortunately, for Germans and the world, there are increasing signs the German economy is being marred by the global crisis. In 2012, GDP growth was a meager 0.7%. More significantly, GDP actually contracted by 0.5% in the fourth quarter.
Währung – Deutschland: Devisen: Euro gibt nach – IWF prognostiziert auch für 2013 Rezession im Euroraum
Observing Hermann 