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German recession could benefit Spanish companies, minister says

Kitco News

MADRID, Sept 18 (Reuters) - An expected economic recession in Germany could benefit Spanish companies as they stand to gain market share, Spain's Economy Minister Nadia Calviño said on Monday.

She told La Sexta television channel that while the German and Italian economies were slowing down, Spain was "fortunately continuing to grow with increasingly lower inflation".

"This is benefiting Spanish companies, as they gain market share because they are more competitive," she said when asked about the monthly economic report by Germany's Bundesbank released earlier on Monday.

The central bank said the euro zone's largest economy was likely to shrink this quarter as industry was in recession and private consumption was adding little to growth.

Reporting by David Latona and Emma Pinedo; Editing by Andrei Khalip

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