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Germany: Altmaier welcomes 'silver lining' as economy avoids recession

0 14.11.2019 Инфо

W/S Arrival of German Economic Affairs and Energy Minister Peter Altmaier to press conference
C/U Cameraman *CUTAWAY*
SOT, Peter Altmaier, German Economic Affairs and Energy Minister (German): "The federal statistical office has published this morning an assessment of the GDP growth in the 3rd quarter and it has shown a growth of a 0.1 percent. This is good news and is a slender but visible silver lining on the horizon. We know that the second quarter showed a decline in economic output of -0.2 percent. We have now a rise in GDP of 0.1 percent which means that the difference between both quarters is 0.3 percent in a situation like that"
C/U Cameraman *CUTAWAY*
SOT, Peter Altmaier, German Economic Affairs and Energy Minister (German): "We were on the safe side, we were careful but today you can say that the growth assumptions were realistic. This first positive signal is not an all-clear signal because the situation in Germany remains difficult."
W/S Media *CUTAWAY*
SOT, Peter Altmaier, German Economic Affairs and Energy Minister (German): "It depends both on Brexit, where the danger of a hard Brexit with big economic upheavals has decreased somewhat or we have a soft Brexit. It also applies to the conflicts between China and USA and China and Europe which haven't tightened so far. The bottom line was that this issues haven't gotten better but neither they got worse."
C/U Camera *CUTAWAY*
M/S End of presser
C/U Ministry of Economic Affairs and Energy logo
SCRIPT
German Economy Minister Peter Altmaier welcomed the news that the German economy had avoided a recession in the third quarter of the year as "a slender but visible silver lining on the horizon," while speaking at a press conference in Berlin on Thursday.
"The federal statistical office has published this morning an assessment of the GDP growth in the 3rd quarter and it has shown a growth of a 0.1 percent," said Altmaier.
The minister added that "This first positive signal is not an all-clear signal because the situation in Germany remains difficult."
Speaking about the reasons behind Germany's sluggish economic figures Altmaier pointed to both the ongoing uncertainty surrounding Brexit and the trade war between the US and China.