Germany Narrowly Avoids Recession As Growth Ticks Up

The German economy has defied expectations of a recession by growing 0.1 per cent in the third quarter as higher spending by households and the government offset a downturn in its export-focused manufacturing sector, the Financial Times reported. The mildly positive growth in the third quarter means the German economy has avoided a technical recession. Announcing the figures on Thursday, Germany’s federal statistics office also revised down the second-quarter economic performance from minus 0.1 to minus 0.2 per cent, while revising up first-quarter growth figures from 0.4 to 0.5 per cent. German industry has been hit by the US-China trade war, uncertainty over Brexit and disruption in the car industry caused by new emissions rules and the shift to electric vehicles. Read more