Eurozone crisis spreads to German
(VOVworld)- Latest macro economic indexes show that the public debt crisis in the Eurozone region has spread to Germany, according to the Le Figaro newspaper of France. The German Economy Ministry reported that growth in Germany, Europe's largest economy, is likely to weaken in the fourth quarter of this year and the first of 2013 as firms postpone investments due to the eurozone crisis. Germany’s export value has reduced by 3.4% in the past nine months. Meanwhile, the export in the whole Europe lost 9.1%, a record low since November 2009. The Le Figaro said that German enterprises are pessimistic about the sign of recovery. Some enterprises have begun cutting down their staff. The automobile manufacturing industry has also witnessed bad signs forcing the manufacturers to discount the prices to maintain the sales.