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Financial News: Bundesbank Says German Economy To Remain Weak In

Bundesbank Says German Economy To Remain Weak In Q4, Recession Unlikely

11/18/2019 - 09:19:00 (RTTNews)

(RTTNews) - Germany's economy is set to remain weak in the final three months of the year, but a recession is unlikely, the Bundesbank said in its monthly report on Monday.

The bank expects "The current period of weakness in the German economy to continue in the final quarter of 2019".

"However, no appreciable tightening is to be expected."

"There currently no reason to fear than Germany will slide into a recession," the bank added.

Citing these, the Bundesbank said there are signs that the downtrend in the industry may slow down. "The domestic economy should continue to provide a boost," the bank added.

Germany's economy expanded a modest 0.1 percent in the third quarter supported by consumption and, thus avoided entering a widely expected technical recession, official data showed last week.

On November 6, the German Council of Economic Experts said in their annual report that "The upswing has come to an end, but a widespread and deep recession is still unlikely."

The council, which is the independent economic adviser to the German government, cut the economic growth forecast for this year to 0.5 percent from 0.8 percent seen in March.

The projection for next year was lowered to 0.9 percent from 1.7 percent.

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