No reason to believe Germany’s economic upswing at an end: minister

BERLIN (Reuters) – Germany’s economy minister said on Thursday that there was no reason to believe Germany’s long economic upswing must be at an end after data showed industrial orders in Europe’s largest economy had fallen for the fourth month in a row.

Earlier on Thursday, the Federal Statistics Office released data showing industrial orders had plunged in April due to weak domestic and euro zone demand, as growing uncertainty about a global trade war led companies to scale back investment plans.

Speaking at a conference, Economy Minister Peter Altmaier said there was no rule saying the current upswing must be at an end. Protectionism and high tariffs help no one, he added.

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