Germany not in recession, says Schaeuble

BERLIN: German Finance Minister Wolfgang Schaeuble said on Tuesday 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. "It doesn't always make sense to only invest in cement," he said.