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Financial News: German Economy Unlikely To See Strong Downturn

German Economy Unlikely To See Strong Downturn

10/14/2019 - 08:07:00 (RTTNews)

(RTTNews) - The German economy is unlikely to log a strong downturn, the economy ministry reported Monday.

The ministry said the weak phase of the economy continues and the economic indicators are not suggesting any turnaround.

Moreover, Germany's export oriented industries continue to face weak global trade, a stagnating global economy and weak demand for automobiles.

However, the ministry does not expect any stronger downturn or even a pronounced recession.

The largest euro area economy contracted 0.1 percent in the second quarter and the economist widely expect another contraction in the third quarter that will push the economy into recession.

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