The German
economy dodged a technical recession in the third quarter, with private
consumption and trade supporting modest growth, a senior official in the
economy ministry said on Thursday, a day before quarterly GDP data are
published.
"We are not expecting a
recession. We don't anticipate a contraction in the third quarter,"
Jeromin Zettelmeyer, the head of the economic policy section at the
ministry told Reuters.
"Private consumption remains supportive and foreign trade should also make a small positive contribution."
The
German economy contracted by 0.2 percent in the second quarter of the
year and some economists are expecting another negative number in the
July-September period, a result which would put Europe's largest
economy into a technical recession.
Economists polled by Reuters are expecting quarter-on-quarter growth of 0.1 percent in the third quarter.
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