Germany 'is already in recession'

GERMANY - A day after news that the US entered a recession in March a leading economic think-tank has said Germany is already in a recession, and things will get worse later this year.

"Germany is in recession, there is no doubt about that," said Hans-Werner Sinn, president of the influential Ifo economic institute. During the third quarter, German gross domestic product (GDP) fell by 0.1%, and Mr Sinn said he expected a further reduction in the fourth quarter. Mr Sinn's remarks come the day a