Bundesbank predicts weak growth in Germany

Business | 20 May 2019 8:46 pm

Germany’s central bank says it expects the country’s economy, Europe’s biggest, to turn in a feeble performance in the current quarter after returning to growth in the winter.

Solid consumer spending and a construction boom helped the economy grow by 0.4 percent in the January-March period after contracting slightly in last year’s third quarter and stagnating in the fourth quarter.

In its monthly report published today, the Bundesbank said the overall tendency remains weak. It said that “against this background, German economic output in the spring of 2019 will likely barely exceed the level it reached in the winter, which was supported by various special effects.”

The German government’s full-year growth forecast currently stands at 0.5 percent, compared with 1.8 percent late last year. It sees growth accelerating to 1.5 percent in 2020.-AP

 

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