Germany Will Likely Have a Technical Recession, Habeck Says

(Bloomberg) -- Germany, which on Wednesday forecast 0.2% growth this year, probably won’t avoid two consecutive quarters of contraction, Economy Minister Robert Habeck told a news conference.

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“It’s still likely that we’ll have a technical recession,” he said, adding that the country would avoid a sharp slump.

“The message is that we have made the crisis manageable,” Habeck said. “This does not mean that the crisis is over. But we were able to avert the worst scenarios.”

Read more: Germany Expects to Defy Energy Crisis With Growth This Year

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