Analysts forecast growth of 0.1% in the first quarter of 2024. Germany's economic outlook is improving after two years of near-zero growth. Bloomberg reports this.
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This week's data suggests that the recovery of Europe's largest economy, Germany, is gaining momentum, especially in the services sectors.
Analysts say that a difficult winter recession has been avoided.
“Consumers have become more confident in developments and are willing to spend a little more,” notes HSBC economist Anja Heimann.
However, Heimann also highlights the predicament in industry.
“We do not expect a strong recovery in Germany because industry has such an important weight in overall growth,” she noted.