SUBSCRIBE TO OUR FREE NEWSLETTER
PUBLISHED |

Finance ministry doubts German recovery

Finance ministry doubts German recovery article image
The German Finance Ministry yesterday released a report that suggests the German economic recovery may not be as stable as first thought. Although figures from the June quarter released earlier this month showed that Europe's largest economy had come out of recession, the growth was largely due to the government's fiscal stimulus package and may not be sustainable. "Despite a clearly improved indicator picture, it is not clear at the moment whether the economic stabilisation will hold. This could in the course of the year have negative effects on the labour market," read the report. The German government forecasts that gross domestic product will show a six percent contraction over 2009.

Tags

Leave A Comment

Spinning icon Saving your comment, please wait...
Spinning icon Saving your comment, please wait...