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Published on 23/08/2019 4:19:43 PM | Source: Reuters

German economy is not in recession, ministry says, after second-quarter contraction

Posted in Top Stories| #World Market #Germany

 

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BERLIN  - Germany is not in recession, a spokeswoman for the Economy Ministry said on Friday, after Europe's largest economy contracted by 0.1% in the second quarter.

A technical recession is normally defined as at least two quarters of contraction in a row.

"We are not currently in a recession," the spokeswoman told a news conference. "Now is the time to ensure growth via wise growth policies."

(Reporting by Michelle Martin and Tassilo Hummel, editing by Thomas Escritt)