Data showing German economy shrunk in second-quarter is a wake-up call: minister

  14 August 2019    Read: 1075
Data showing German economy shrunk in second-quarter is a wake-up call: minister

Data showing Europe’s largest economy contracted by 0.1% in the second quarter is a “wake-up call and a warning signal”, Economy Minister Peter Altmaier told Germany’s Bild newspaper on Wednesday.

“We are in a phase of economic weakness but not yet in recession. We can avoid that if we take the right measures,” Altmaier said.

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

 

Reuters


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