Published on 14/08/2019 5:24:11 PM | Source: Reuters

German government still sees economy growing slightly in 2019 despite second-quarter contraction

Posted in Top Stories| #World Market

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BERLIN  - Chancellor Angela Merkel's government still believes the German economy will grow slightly this year despite contracting in the second quarter, a spokeswoman said on Wednesday, adding that the government did not think further stimulus was necessary.

"As the chancellor has already laid out, the government does not currently see any need for further measures to stabilise the economy - the fiscal policy of the German government is already expansive," a government spokeswoman said.

Economy Minister Peter Altmaier had said earlier on Wednesday that Germany was not yet in a recession and could avoid one if it took the right measures.

(Reporting by Michelle Martin; Editing by Tassilo Hummel)