Goldman Sachs on recession in Germany

Via Market Watch - Goldman Sachs foresees a period of recession in eurozone with Germany falling into negative growth in the forth quarter of 2011. In May 2011, we posted on recession in germany and showed that this period will be a lenghty one ( http://mechonomic.blogspot.com/2011/05/how-long-will-last-real-economic-growth.html) . Figure 1 reproduces  some details of our prediction  of real GDP per capita in Germany.

Figure 1. Observed and predicted rate of real GDP growth in Germany after the reunification.
Lower panel - The original curves are smoothed with MA(3).

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