Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

German economy averted recession in third quarter: ministry

Send a link to a friend  Share

[November 13, 2014]  BERLIN (Reuters) - The German economy dodged a technical recession in the third quarter, with private consumption and trade supporting modest growth, a senior official in the economy ministry said on Thursday, a day before quarterly GDP data are published.

"We are not expecting a recession. We don't anticipate a contraction in the third quarter," Jeromin Zettelmeyer, the head of the economic policy section at the ministry told Reuters.

"Private consumption remains supportive and foreign trade should also make a small positive contribution."

The German economy contracted by 0.2 percent in the second quarter of the year and some economists are expecting another negative number in the July-September period, a result which would put Europe's largest economy into a technical recession.

Economists polled by Reuters are expecting quarter-on-quarter growth of 0.1 percent in the third quarter.

(Reporting by Rene Wagner; Writing by Noah Barkin)

[ 2014 Thomson Reuters. All rights reserved.]

Copyright 2014 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

< Top Stories index

Back to top