Bundesbank president Weber says that Q1 2009 GDP could decline more in Germany than it did in Q4 2008. For comparison’s sake, GDP fell at an 8.4% annual rate in Q4…
He expects the economy to stabilize in 2009 and grow slightly in 2010. He says there is no generalized credit crunch in Germany but that credit availability could decline in coming months.
EUR/USD is consolidating in the 1.3150s aftera bouncing twice from the 1.3115/20 region.
