Which country has the largest economy in the European Union?
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Which country has the largest economy in the European Union?
Germany, hands down! The biggest population, the biggest GDP, center of European economy, industry, education, medicine. I am not any kind of expert in economy so maybe I cannot give a answer that you’re looking for. But since I was little, I’ve been told “Study well so that you’ll be able to go to Germany to work” I believe that every young person from developing, post-comunist country, have heard this sentence at least once in a lifetime, and maybe in some developed European countries. Germany is and will for a long time remain the leader in Europe and personally I believe that everyone should learn a lot from German lifestyle and way of thinking.
The German economy is the fourth largest in the world, in terms of nominal GDP. The economy is manufacturing intensive, which has turned out to be the reason for its decline in the wake of a global industrial recession. The German economy contracted 0.1% in Q2 2019 and future projections do not appear too optimistic either. The IFO Institute has downwardly revised the German GDP growth rate to 0.5%, from the earlier 0.8%, in its joint economic forecast for 2019, released on October 2, 2019. This decline is a spill-over effect of the rising risks of an escalating US-Sino trade war. All this has led to negative business sentiment and declining industrial demand. Particularly hit is the German auto industry, the main pillar of the country’s export success, with threats of increase in import tariffs by the US.