clearly, the economic policies of the bush administration, known by BHO as "the man that broke the
oceans", are superior to those of europe. and those european economic policies are very much like
what The BarackStar!, to the extent that he has said anything specific, would institute.
German, French economies contract
First euro-zone contraction since currency was introduced
LONDON (MarketWatch) -- The German and French economies contracted during the second quarter, figures out Thursday showed, the latest evidence demonstrating how European activity has not been able to decouple from the U.S. slowdown.
In Germany, gross domestic product dropped 0.5% compared to the first quarter, the Federal Statistics Office said.
It marked the first drop in nearly four years. On a year-on-year basis, Germany's output expanded 1.7%.
Weaker consumption, capital investment and construction activity led to the quarterly decline, but the drop wasn't as steep as the 0.7% fall that economists had forecast.
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In France, data showed GDP fell 0.3% during the second quarter.
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Economists had expected a 0.2% quarterly rise.
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