Official data: German economy is in recession

Germany, the main economy in the Euro zone, is in technical recession after two consecutive quarters of GDP decrease, an official press release of the Federal Statistics Institute informs. In the third quarter, the German gross domestic product decreased 0.5%, 0.2% more than the experts first estimated.

The German economy was severely affected by the 8% decrease of exports in august and September 2008. The GDP also decreased 0.4% in the second quarter of the year, after a 1.4% growth in Q1.