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Germany is poised to witness a weak second quarter in terms of growth output following mild recovery after the country posted better than expected output figures for the first quarter of the fiscal year. Output had more than doubled to hit its highest level in 1Q.
"After a positive start to 2016 German economic growth is likely to slowdown, because the usual spring recovery is set to be weaker due to the milder weather in the first quarter," German Economy Minister Gabriel said today at a press conference.
"After a positive start to 2016 German economic growth is likely to slowdown, because the usual spring recovery is set to be weaker due to the milder weather in the first quarter," the Ministry said.
The Ministry fears that a slow recovery in the global sphere may pose serious threats to the German economy. However, the Economy Minister has urged for better spending on investment in education, infrastructure and innovation after the country witnessed increase in production, employment is noticeably rising, and higher income of private households.
