German recession confirmed

GERMANY - The German economy is officially in recession, according to official figures which have confirmed two successive quarters of contraction.

Gross domestic product (GDP) shrank 0.3% in the last three months of 2001, following a 0.2% fall between July and September.

The numbers, which were worse than many economists had expected, also showed that in December Germany's economy was 0.1% smaller than it had been in December 2000.

On a seasonally adjusted basis, growth was zero for 2001, th