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BREAKING NEWS

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

German economy is not in recession, ministry says, after second quarter contraction
FILE PHOTO: A containership at a loading terminal is seen in the port of Hamburg, Germany, February 2, 2017. REUTERS/Fabian Bimmer -
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Fabian Bimmer(Reuters)
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BERLIN (Reuters) – 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)

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