9/13, 10:40 AM (Source: TeleTrader)
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German ministry: No indicators of turnaround from slowdown

Germany's Ministry of Economy and Energy said in a release on Friday that the country's economy is in a "weak phase," with no indicators of a turnaround. However, it pointed out that a "stronger recession" is not currently expected.

Germany's exports have been negatively affected by the weakening global industry and new orders in the manufacturing sector are continuing to decline, the ministry added, noting that the construction sector is performing well. Job creating has slowed consequently, while government and private consumer spending support the economy "noticeably."

The uncertainty caused by the trade wars and the Brexit process was cited by the ministry as factors that continue to negatively affect the global economy, although it is "gradually adapting to the new conditions," with entrepreneurs looking for new opportunities.

Breaking the News / NI