August 14, 2019 / 8:46 AM / 10 days ago

Data showing German economy shrunk in second-quarter is a wake-up call: minister

FILE PHOTO: Germany's Economy Minister Peter Altmaier speaks to the media in front of the Drum Tower in Beijing, China June 19, 2019. REUTERS/Jason Lee

BERLIN (Reuters) - Data showing Europe’s largest economy contracted by 0.1% in the second quarter is a “wake-up call and a warning signal”, Economy Minister Peter Altmaier told Germany’s Bild newspaper on Wednesday.

“We are in a phase of economic weakness but not yet in recession. We can avoid that if we take the right measures,” Altmaier said.

A technical recession is normally defined as at least two quarters of contraction in a row.

Reporting by Michelle Martin; Editing by Thomas Seythal

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