London-based economists at the investment banking company Credit Suisse have named Germany a “major underperformer” of the European block of countries, citing a significant decrease in the nation’s GDP and purchasing power.
“The ongoing trade slump remains challenging for the German economy. Once the major outperformer of the euro-area economy, [Germany] is now the major underperformer, its huge trade imbalance a huge burden”, the experts stated, as cited by Fox Business. This valuation was issued after Credit Suisse economists reviewed the latest economic indicators. For instance, they note that the German economy grew at mere 0.4 percent year-over-year from April through June, its weakest indicators in over six years. They also noted the country’s economy showed a 0.1 percent quarter-over-quarter decrease, which signified Germany was Europe’s only major economy to shrink in the past several months.
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