Unclear how deep and lasting Germany’s economic problems are – ECB’s Nowotny

It is unclear if Germany’s recent economic setbacks are a one-off or a more lasting phenomenon caused by structural problems, particularly in its car industry, European Central Bank policymaker Ewald Nowotny said in remarks published on Saturday.

Struggling to adjust to new emission testing standards, Germany’s car manufacturing contracted in the third quarter, dragging overall economic growth into negative territory and raising fears that Europe’s five-year-old growth run may be coming to a premature end.

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