According to the results of the first quarter of this year, the German economy grew above expectations, although the previous forecasts of local Central Bank analysts were in the direction of contraction. In this respect informs Agency “Prime”, which refers to the data of the monthly report of the Bundesbank.
The German economy managed to achieve a slight growth thanks to the restoration of production volumes in the industrial sector. The report states that due to this factor, the level of commercial activity in the country has also increased.
“In the first quarter of 2023, the German economy performed better than expected a month ago and activity will likely recover somewhat. “The industry has recovered more significantly than expected,” said a regulatory report.
According to the results of the last quarter of last year, the country’s economy, on the contrary, shrank by 0.4%. But that dynamic changed earlier this year. Falling gas prices supported energy-intensive industries and supply chain problems began to subside. At the same time, the Bundesbank noted that the demand for cars has increased and business activity in the construction sector has increased.
16 April International Monetary Fund (IMF) European Department Head Alfred Kammer declarationHe said that European countries expect slow economic growth and sustained high inflation in the short term. At the same time, consumer price growth will continue to be in double digits in most developing countries in Europe and some developed economies in the region.