Economic news

German recession to end in Q2 with slight GDP rise – Bundesbank

2023.06.26 06:24


© Reuters. FILE PHOTO: Christmas shoppers wear mask and fill Cologne’s main shopping street Hohe Strasse (High Street) during the spread of the coronavirus (COVID-19) pandemic in Cologne, Germany, 12, December, 2020. REUTERS/Wolfgang Rattay/File Photo

BERLIN (Reuters) – Recession in Germany is expected to end in the spring quarter, the Bundesbank said in its monthly report on Monday, adding that gross domestic product would “rise slightly” in the April to June period.

“Private consumption should bottom out,” experts from the German central bank wrote in the report. “Thanks to strongly rising wages, the real disposable incomes of private households are stabilising despite inflation remaining very high.”

At the end of 2022 and the beginning of 2023, Europe’s largest economy contracted for two quarters in a row, defined by economists as a “technical recession”.

The Bundesbank said the spring quarter uptick would be supported by German industry’s ability to weather a continued decline in demand thanks to lower energy prices, easing of supply bottlenecks and full order books.

For 2023 as a whole, the Bundesbank expects GDP to decline by a calendar-adjusted 0.3%, followed by growth of 1.2% in 2024 and 1.3% in 2025.

“The German economy is thus recovering only laboriously from the crises of the last three years,” it said.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 70,250.82 3.69%
ethereum
Ethereum (ETH) $ 2,455.08 1.09%
tether
Tether (USDT) $ 1.00 0.00%
bnb
BNB (BNB) $ 569.07 2.87%
solana
Solana (SOL) $ 167.13 4.72%
usd-coin
USDC (USDC) $ 1.00 0.04%
xrp
XRP (XRP) $ 0.514116 0.94%
dogecoin
Dogecoin (DOGE) $ 0.176453 12.27%
staked-ether
Lido Staked Ether (STETH) $ 2,453.10 1.00%
tron
TRON (TRX) $ 0.161044 1.61%
cardano
Cardano (ADA) $ 0.336751 2.72%
the-open-network
Toncoin (TON) $ 4.71 1.74%
shiba-inu
Shiba Inu (SHIB) $ 0.000018 7.93%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,909.56 1.24%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 70,135.79 3.70%
avalanche-2
Avalanche (AVAX) $ 24.25 5.54%
weth
WETH (WETH) $ 2,454.17 1.04%
chainlink
Chainlink (LINK) $ 10.90 5.46%
bitcoin-cash
Bitcoin Cash (BCH) $ 342.15 2.59%
sui
Sui (SUI) $ 2.02 8.54%
usds
USDS (USDS) $ 1.00 0.08%
polkadot
Polkadot (DOT) $ 3.90 3.32%
leo-token
LEO Token (LEO) $ 6.05 0.11%
litecoin
Litecoin (LTC) $ 66.47 0.58%
near
NEAR Protocol (NEAR) $ 3.84 5.99%
aptos
Aptos (APT) $ 8.54 5.41%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,581.43 1.10%
uniswap
Uniswap (UNI) $ 7.16 5.01%
pepe
Pepe (PEPE) $ 0.000009 6.51%
internet-computer
Internet Computer (ICP) $ 7.40 4.49%
bittensor
Bittensor (TAO) $ 465.14 10.86%
dai
Dai (DAI) $ 1.00 0.04%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.25 10.63%
monero
Monero (XMR) $ 158.77 1.02%
kaspa
Kaspa (KAS) $ 0.112204 7.49%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.04%
stellar
Stellar (XLM) $ 0.093484 2.57%
whitebit
WhiteBIT Coin (WBT) $ 19.08 1.30%
ethereum-classic
Ethereum Classic (ETC) $ 18.23 2.48%
first-digital-usd
First Digital USD (FDUSD) $ 0.998629 0.12%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.304295 3.74%
blockstack
Stacks (STX) $ 1.54 5.06%
okb
OKB (OKB) $ 38.12 1.80%
dogwifcoin
dogwifhat (WIF) $ 2.13 6.69%
filecoin
Filecoin (FIL) $ 3.40 2.16%
aave
Aave (AAVE) $ 134.60 4.47%
crypto-com-chain
Cronos (CRO) $ 0.072681 2.59%
arbitrum
Arbitrum (ARB) $ 0.492096 3.03%
mantle
Mantle (MNT) $ 0.565804 2.03%
immutable-x
Immutable (IMX) $ 1.10 2.95%