Mon, May 28, 2012, 7:15 PM EDT - U.S. Markets closed for Memorial Day

Summary Box: Worries stoked about German economy

Summary Box: German economy may have stalled in latest quarter despite 3 percent annual growth

GERMAN STALL?: Government statisticians say Germany's economy likely contracted in the last quarter of 2011 despite posting growth of 3 percent for the full year. The Federal Statistics Office said Europe's biggest economy likely contracted by 0.25 percent in the fourth quarter; the exact figure isn't due until mid-February and could be revised.

THE BACKDROP: Germany's 2011 growth puts it in a small group of strongly performing eurozone countries, along with Finland, Austria, Slovakia, and Luxembourg. France should see growth of about 1.7 percent for the year, according to the International Monetary Fund.

THE OUTLOOK: Most recent economic indicators suggest 2012 will be a tough year, both for Germany and Europe. Germany's growth for 2011 came despite the financial crisis in Europe which has other economies such as Greece, Spain and Italy struggling with huge debts and slumping output.

 

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