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 Copyright Fabian Bimmer(Reuters)
Copyright Fabian Bimmer(Reuters)
By Reuters
Share this articleComments
Share this articleClose Button

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)

Share this articleComments

You might also like