German economy slumps

[Giancarlo]

"More than 5.2 million Germans were out of work in February, new figures show.

The figure of 5.216 million people, or 12.6% of the working-age population, is the highest jobless rate in Europe's biggest economy since the 1930s.

The news comes as the head of Germany's panel of government economic advisers predicted growth would again stagnate.

Speaking on German TV, Bert Ruerup said the panel's earlier forecast of 1.4% was too optimistic and warned growth would be just 1% in 2005."

http://news.bbc.co.uk/2/hi/business/4307303.stm

I was arguing with somebody before about the health of the German economy, it seems I'm right.

 

[Jefforaby]

Wow... I've always thought the unemployment here in the US was bad... look at Germany.

 

[Giancarlo]

The unemployment in the US is certainly not bad. It is 5.4%, which is very low compared to European averages. Our economy is also actually growing (+3.8% in Q4 2004). All in all we have it good.

 

[alvino]

I was arguing with somebody before about the health of the German economy, it seems I'm right.

LOL Seems you are right...although I doubt "he" would admit it...*shrugs* whatever.

 

[Giancarlo]

WEll these are official figures...

 

[alvino]

Yeah, I know...I never said you were wrong. I'm just saying that Mr. A.Z. (hint hint) Is so deeply in love with Germany that I doubt that he could pull himself away from it. But, the countrysides are nice...

 

[jack22]

No fighting

And those are stunning and dissapointing figures.

 

[Giancarlo]

Not fighting. Don't make up more stuff about me Jack. Again Mr A.Z just wouldn't accept the reality of Germany's economy. Its GDP shrank in the last three months of 2004.

 

[alvino]

Now now...let's not get carried away. Well I guess our turn is over...now it's Germany's time.

 

[Giancarlo]

Our turn is over? What do you mean by that?