Bloomberg News

Germany Sees End to Weak Economic Phase ‘Soon,’ Ministry Says

February 09, 2012

(See EXT4 for more on Europe’s debt crisis.)

Feb. 9 (Bloomberg) -- Germany’s economic “weak phase” will end quickly after uncertainty from the euro-area debt crisis prompted Europe’s biggest economy to slow in the final quarter of last year, the government said.

A pickup in industrial orders and brightening economic indicators point to the weak period ending “soon,” the Berlin- based Economy Ministry said today in its monthly report for February.

Even so, the crisis still poses a risk to the German economy. “Despite the important political decisions to stabilize the euro-area debt crisis taken in the past few weeks and months, the risks to the economy in Germany remain high,” the ministry said.

The ministry said the “determination of all euro countries to concretely tackle the outstanding budget problems and poor competitiveness will be decisive in bringing a return to dynamic growth across Europe.”

--Editors: Eddie Buckle, Leon Mangasarian

To contact the editor responsible for this story: Alan Crawford at acrawford6@bloomberg.net


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