{"id":10228,"date":"2023-04-14T08:58:56","date_gmt":"2023-04-14T08:58:56","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/german-economy-expected-to\/"},"modified":"2023-04-14T09:03:20","modified_gmt":"2023-04-14T09:03:20","slug":"german-economy-expected-to","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/german-economy-expected-to\/","title":{"rendered":"German economy expected to skirt recession &#8211; economy ministry report"},"content":{"rendered":"<p>BERLIN (Reuters) -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. <\/p>\n<p>&#8220;A technical recession of two negative quarters in a row  appears to have been averted,&#8221; the ministry said. <\/p>\n<p>Current forecasts predict a slight year-on-year increase in gross domestic product (GDP) for 2023 as a whole, it added. Leading economic institutes expect the German economy to grow 0.3% this year. <\/p>\n<p>Economic indicators point to a noticeable pickup in the first quarter, with industrial and construction output driving growth, benefiting from an easing of material bottlenecks, falling energy prices and favourable weather conditions, the report said.<\/p>\n<p>The institute&#8217;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.<\/p>\n<p>The ministry spoke of a &#8220;favourable start&#8221; to the year. The mild winter and high gas storage levels had contributed to sufficient gas availability in Germany and Europe, which was reflected in a noticeable drop in energy prices, the ministry said.  <\/p>\n<p>&#8220;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,&#8221; the report said. <\/p>\n<p>Inflation rates are expected to continue to ease in the coming months, although remaining at a high level. The current forecast range is 5.4% to 6.6% for inflation in 2023 and 2.1% to 3.5% for 2024.<\/p>\n<p>The economy ministry sees risks to its economic outlook, such as weak private consumption, a deterioration of conditions in construction, recent problems in financial institutions and geopolitical uncertainty due to the war in Ukraine.<\/p>\n<p> (Reporting by Maria Martinez and Reinhard Becker Editing by Miranda Murray and Christina Fincher)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/german-economy-expected-to\/shopping-before-christmas-in-berlin\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3D08M-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3D08M-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BERLIN (Reuters) -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. &#8220;A technical recession of two negative quarters in a row appears to have been averted,&#8221; the ministry said. Current forecasts predict a slight year-on-year increase in [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":10229,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-10228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3D08M-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/10228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=10228"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/10228\/revisions"}],"predecessor-version":[{"id":10252,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/10228\/revisions\/10252"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/10229"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=10228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=10228"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=10228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}