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| German economy now in recession | |
| (20 minutes later) | |
| Germany has entered a recession after government figures showed that the country's economy contracted by 0.5% in the third quarter. | |
| This is the second consecutive quarter that the economy has shrunk after a 0.4% contraction in the second quarter. | This is the second consecutive quarter that the economy has shrunk after a 0.4% contraction in the second quarter. |
| The fall in economic output was greater than the 0.2% fall that many analysts had expected. | The fall in economic output was greater than the 0.2% fall that many analysts had expected. |
| Europe's largest economy was hit hard by falls in exports - orders fell 11.4% between August and September. | |
| "A negative effect on gross domestic product came from foreign trade, with a strong increase in imports and weakening exports," the Federal Statistics Office said. | |
| The last time that the German economy was in recession was the first half of 2003. | |
| Last week, official figures showed that German industrial output fell 3.6% in September, compared with August. | Last week, official figures showed that German industrial output fell 3.6% in September, compared with August. |