11/14, 8:51 AM (Source: TeleTrader)
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Altmaier: German economy still not stable

German Federal Minister for Economic Affairs Peter Altmaier (pictured) said on Thursday the economic development of Germany is still not stable enough even though the country managed to avoid recession in technical terms.

Commenting on the latest GDP figures, Altmaier said that it is hard to say for only one quarter of economic growth that it is a "positive" trend. However, he added that 0.1% percent of quarterly growth can be seen as a stagnating economy.

Still, the overall outlook is not that great, noted Altmaier, claiming there has to be a growth amid the global economy and German manufacturing sector. The last results of the German GDP for the second quarter showed that positive contributions came mostly from consumption.

Breaking the News / TF