Germany narrowly escapes recession but growth weak

Germany has bucked expectations and narrowly avoided going into recession, figures show.
Europe’s biggest economy unexpectedly grew by 0.1% in the third quarter driven by strong consumer spending.

Analysts had expected a 0.1% contraction.
But the Federal Statistical Office said gross domestic product in the second quarter contracted by 0.2%, greater than the 0.1% previously reported.
The German government’s independent panel of economic advisers said last week there was no sign of a “broad, deep recession” or current need for a stimulus plan.


Services companies and the jobs market have held up well in Germany, but the industrial sector has seen declines in he face of trade tensions.

The country’s economy minister Peter Altmaier said: “We do not have a technical recession, but the growthnumbers are still too weak.”
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Source : Sky News