Germany's GDP declined in the first quarter



Germany's GDP fell in the first quarter by 3.8% over the same period last year, has announced the Federal Office of Statistics.
It is the largest decline since 1970. On an annual basis the decline was more substantial and of 6.9%. To weigh and the collapse of exports (Germany is the first country in the world export value ), which fell by 9.7%. Including decline in business investment - 7.9%.
Things are no better in Russia, the Minister of Economic Development Andrey Klepatch reported that the Russian economy fell by 9.8% in the first quarter of 2009, and it declined by 10.5% in the month of April. The Russian government has also revised, to the upside, the forecast budget deficit for 2009 taking it from 7.4% to 9%.


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