Germany’s Altmaier: Economic outlook remains subdued for the time being

Dhwani Mehta FXStreet

The latest comments are out on the wires by Germany's Economy Minister Peter Altmaier, as he responds to the German economic contraction.

Key Quotes:

Trade conflicts, Brexit and geopolitical crises are dampening global trade and economy.

That's hitting German industry.

Domestic economy remains robust.

Rising incomes and fiscal impetus are providing support.

Outlook remains subdued for the time being.

Trade conflicts have escalated further and prospects for orderly Brexit have not improved.

GDP figures are wake-up call and warning signal.

We are in a phase of economic weakness but not in recession.

We can avoid recession if we take right measures.

EUR/USD trades side-lined near 1.1180 region, unperturbed by downbeat German growth numbers and falling bund yields, as the focus remains on the Eurozone flash GDP for the second quarter.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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