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typeContent_19130:::2023-04-14T12:14:00

German Economy Likely To Avoid Recession: Economy Ministry

The German economy is likely to grow marginally in the first quarter as easing supply chain disruptions, the fall in energy prices and favorable weather conditions boosted industrial and construction output, the Economy Ministry said in a report published on Friday.

The noticeable revival of economic activity will help the largest euro area economy to avoid a technical recession, the ministry noted.

The economy had contracted 0.4 percent in the fourth quarter after expanding 0.5 percent in the preceding period.

The latest leading indicators signals a slight positive growth in the first quarter. The spring forecast of the major economic research institutes also suggested a slight positive GDP growth at the start of the year.

A "technical recession" which is defined as two consecutive quarters of negative growth seems to have been averted, the ministry said.

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