Bundesbank: Germany's Economy Expected To Grow
Date
5/22/2024 3:06:19 PM
(MENAFN- Kuwait News Agency (KUNA)) BERLIN, May 22 (KUNA) -- Germany's central bank (Deutsche Bundesbank) said on Wednesday that it expects the country's economy, the largest Economy in Europe, to grow gradually after witnessing a 0.2 percent growth in the first quarter of this year.
This came in a report from Bundesbank's headquarters in Frankfurt, where they attributed these expectations to the services and consumption sectors, which will be reflected in the overall economic growth in the coming months.
The German economy, which relies mainly on the export sector, saw a 0.2 percent contraction last year, which was due to the decline in the performance of most economic sectors, especially the consumption sector.
This was all indicated by economic institutes, specifically (Ifo), and the German government, which is due to rising prices and the inflation rate, against the backdrop of rising energy prices. (end)
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