Germany is predicted to lightly avoid recession & record modest progress in the 1st qtr of this year. The 1st qtr’s gross domestic product is anticipated to rise by 0.1 percent, according to the so-called Joint Economic Estimates. – Germany GDP
Which will be presented in Berlin on Wednesday. This comes after the 4th qtr of 2022 saw a 0.4 percent contraction.
First two consecutive qtr’s of loss is the conventional definition of a recession.
Inflation is expect to reach 6.0 percent in 2023. Germany GDP is expect to expand by 0.3 percent in 2023, up from the 0.4 percent drop anticipated in the autumn. According to the 5 economic institutes that produce the Joint Economic Predictions.
The 4 German & 1 Austrian institutes anticipate 1.5 percent GDP growth in 2024, down from their earlier projection of 1.9 percent.
The German govt predicted 0.2 percent growth for 2023 in its annual growth report, which was released in Jan.
The Joint Economic Predictions conclusions will be incorporated into the economics ministry’s updated estimates this spring.