German Chancellor Angela Merkel speaks during the budget debate in the Bundestag, the lower house of parliament in Berlin, Germany September 11, 2019. REUTERS/Axel Schmidt
September 11, 2019
BERLIN (Reuters) – Chancellor Angela Merkel said on Wednesday that the current economic situation in Germany meant tax revenues could come in lower than expected.
Europe’s largest economy contracted by 0.1% quarter-on-quarter in the April-June period and some weak data since then has fueled concerns that the economy could slip into recession in the July-September period. Economists generally define a technical recession as at least two consecutive quarters of contraction.
(Reporting by Michelle Martin and Tassilo Hummel; Editing by Paul Carrel)