Data showing German economy shrunk in Q2 is a wake-up call - minister

Data showing Europe's largest economy contracted by 0.1% in the second quarter is a "wake-up call and a warning signal", Economy Minister Peter Altmaier told Germany's Bild newspaper on Wednesday. "We are in a phase of economic weakness but not yet in recession. We can avoid that if we take the right measures," Altmaier said.

A technical recession is normally defined as at least two-quarters of contraction in a row.