{"id":21280,"date":"2023-04-24T10:05:55","date_gmt":"2023-04-24T10:05:55","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/german-economy-likely-grew\/"},"modified":"2023-04-24T10:08:31","modified_gmt":"2023-04-24T10:08:31","slug":"german-economy-likely-grew","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/german-economy-likely-grew\/","title":{"rendered":"German economy likely grew in Q1, beating expectations &#8211; Bundesbank"},"content":{"rendered":"<p>FRANKFURT (Reuters) &#8211;     The German economy is likely to have expanded in the last quarter on a rebound in industrial production, the Bundesbank said in a monthly report on Monday, revising its previous prediction of a small contraction. <\/p>\n<p>The euro zone&#8217;s biggest economy has struggled for much of the past year as sky-high energy prices weighed on its vast industrial sector, but a modest rebound has been under way since gas prices fell back, boosting hopes that a recession can be avoided. <\/p>\n<p>&#8220;The German economy did better in the first quarter of 2023 than expected a month ago and activity is likely to have picked up again somewhat,&#8221; the Bundesbank said. &#8220;Industry recovered more strongly than expected.&#8221;<\/p>\n<p>The Bundesbank&#8217;s mild optimism is consistent with a recent string of survey data, which point to a mild recovery after a 0.4% contraction in the fourth quarter, even if growth could remain below trend for some time. <\/p>\n<p>Falling gas prices supported energy intensive industries while supply bottlenecks continued to ease, car demand picked up and construction also got a boost, even if that was partly due to mild weather.<\/p>\n<p>Industrial orders also surged recently, which may suggest that demand for manufactured goods has passed its cyclical bottom, the central bank said.<\/p>\n<p>High employment should also keep supporting consumption, and unemployment is likely to fall slightly in the coming month, the bank added. <\/p>\n<p>But the outlook is still mixed as inflation continues to weigh on consumption and the reversal in underlying price pressures has yet to work its way through to consumers.<\/p>\n<p>Still, price growth is likely to keep easing and even if core inflation remains elevated for some time, services inflation should ease slowly, the Bundesbank added.<\/p>\n<p \/>\n<p> (Reporting by Balazs Koranyi; Editing by Kevin Liffey)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/german-economy-likely-grew\/file-photo-full-shelves-with-fruits-are-pictured-in-a-3\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3N09Z-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3N09Z-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FRANKFURT (Reuters) &#8211; The German economy is likely to have expanded in the last quarter on a rebound in industrial production, the Bundesbank said in a monthly report on Monday, revising its previous prediction of a small contraction. The euro zone&#8217;s biggest economy has struggled for much of the past year as sky-high energy prices [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":21281,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[],"class_list":["post-21280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3N09Z-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/21280","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=21280"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/21280\/revisions"}],"predecessor-version":[{"id":21282,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/21280\/revisions\/21282"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/21281"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=21280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=21280"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=21280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}