Germany is expected to narrowly escape recession and post modest growth in the first quarter of the year, according to an economy ministry report published on Friday.
"A technical recession of two negative quarters in a row appears to have been averted," the ministry said.
The institute's Joint Economic Forecasts anticipate a 0.1% expansion in GDP in the first quarter. This follows a 0.4% contraction in the fourth quarter of 2022. "Consumer sentiment is expected to continue its recovery in the coming months, although inflation-related losses in purchasing power continue to weigh on the economy," the report said.
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