German econ ministry sees moderate economic recovery in 2023

BERLIN (Reuters) – The German Economy Ministry said on Wednesday it expects a moderate economic recovery over the further course of year, citing easing price pressures in the global energy market and an expected rebound in the global economy, among other factors.

An “economic” recession in the sense of a more sustained downturn is not currently expected, the ministry said in its monthly report.

Germany entered a “technical” recession in the first quarter of 2023, defined as two consecutive quarters of economic decline.

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