- Title: GERMANY-ECONOMY/SCHAEUBLE Germany not in recession, says Schaeuble
- Date: 25th November 2014
- Summary: BERLIN, GERMANY (NOVEMBER 25, 2014) (REUTERS) FOREIGN MINISTER FRANK-WALTER STEINMEIER LOOKING ON AS DEPUTY CHANCELLOR AND ECONOMY MINISTER SIGMAR GABRIEL AND MERKEL BOTH WRITE ON THEIR MOBILE PHONES
- Embargoed: 10th December 2014 12:00
- Location: Germany
- Country: Germany
- Topics: General
- Reuters ID: LVA4PRAJQRUBO7GD34EDLOCLQ6IO
- Aspect Ratio:
- Story Text: German Finance Minister Wolfgang Schaeuble said on Tuesday (November 25) that Europe's biggest economy was not in recession.
"We are not in a recession," Schaeuble told the Bundestag lower house in a debate.
"We don't have quite such good economic growth as we did before but we are performing close to our economic capacity," he said.
Schaeuble said that Germany has invested heavily in research in development and that it doesn't make sense to only count investment in tangible infrastructure.
"Germany's largest 45 companies increased their expenses for research and development between July 2013 and July 2014 by 11.3 percent. The global trend is on the decline," Schaeuble said.
"It doesn't always make sense to only invest in cement," he added.
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