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.