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German economy likely to expand in Q1 2023
Posted on May 1, 2023 |
The euro zone's biggest economy struggled for much of the past year due to high energy prices which suppressed its industrial sector.
However, gas prices have dropped which is a boost in evading recession and a modest rebound.
In Q1 2023, the German economy did better than predictions a month ago and the industry rebounded more strongly than expected.
Plunging gas prices helped energy-intensive industries while supply bottlenecks continued to ease, and car demand and construction boosted.
Industrial orders also increased, which suggests that demand for manufactured goods passed its repetitive bottom.