Germany grinds to halt

GERMANY barely avoided a recession at the end of last year as its economy stagnated amid jitters over global trade.

There was zero growth in the final quarter of 2018, following a 0.2pc contraction over the previous three months. It means the country narrowly dodged a recession, which is defined as two consecutive quarters where the economy shrinks. The figures from the Federal Statistics Office will spark concerns for the wider eurozone because Germany has long been seen as its economic powerhouse.

Another survey revealed German business confidence has this month sunk to its lowest level since 2014. Bosses are increasingly worried about the future outlook.