World News: 10:21 GMT Wednesday 14th August 2019. [Yahoo Business News Feed via SPi World News]
The German economy shrank by 0.1 percent in the second quarter from the previous three-month period as global trade conflicts and troubles in the auto industry weighed on Europe's largest economy. The state statistics agency Destatis said Wednesday that falling exports held back output while demand from consumers and government spending at home supported the economy. Germany's economy is facing headwinds as its auto industry, a key employer and pillar of growth, faces challenges adjusting to tougher emissions standards in Europe and China and to technological change.
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