Global Economic News: At Least 9 Countries In Recession
- As CNN reports, the German economy contracted 0.1 percent in the second quarter of 2019 “as global uncertainty and the trade war took a toll on its manufacturers.” The economy had expanded 0.4 percent in the first quarter. Industrial output in the country declined five percent from June 2018 to June 2019 and a key indicator of economic sentiment fell in August to its lowest level since December 2011.
- The Washington Post reports that nine major countries, including several key U.S. trading partners, are in a recession or on the verge of one, stoking fears that the U.S. economy may be dragged into one as well. Read more here.