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German economy heading for contraction in Q1, Bundesbank says
Germany's economy will shrink again in the first quarter of the year and underlying inflation could prove to be stubborn even if overall price growth is likely to slow sharply soon, the Bundesbank said in a monthly report on Monday. Europe's biggest economy contracted by 0.4% in the final quarter of 2022 and its vast industrial sector is just starting to recover while high inflation is weighing heavily on consumption. "German economic activity will probably fall again in the current quarter," the Bundesbank said. "However, the decline is likely to be less than in the final quarter of 2022." While a recession - two ... (full story)
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- Posted: Mar 20, 2023 7:12am
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 652
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