Photo: flickr user: smitty42
Germany’s GDP increased 3.0% in 2011, which was right in line with economists’ expectations.However, this is was a major slow down from the 3.7% growth Europe’s largest economy saw in 2010.
Germany, which has actually been a major beneficiary of the euro, has been getting hit be economic deterioration across Europe.
The European stock markets are trading modestly higher. Germany’s DAX is up 0.12%.
Germany is scheduled to auction off 4 billion worth of 5-year debt later this morning.
Overall, nothing too crazy going here.