According to the Kiel Institute Forecasting Center, shallow water is the main issue of the third-quarter downturn in economic output.
Excerpt from the Article
(...) That dry patch is now being blamed for much of the third-quarter downturn in economic output that has thrown analysts into a tizzy about weakness in Europe’s largest economy. A new study from the Kiel Institute for the World Economy (IfW) suggests that much of this handwringing may be overdone.
“Shallow water probably slowed growth in GDP by 0.2 percent in the second quarter, and 0.1 percent in the fourth quarter,” said Stefan Kooths, chief economist at the think tank.