{"id":54318,"date":"2023-12-11T18:58:40","date_gmt":"2023-12-11T18:58:40","guid":{"rendered":"https:\/\/prosfunds.com\/news\/germany-heading-for-another-poor-quarter-arduous-recovery-bundesbank\/"},"modified":"2023-12-11T18:58:41","modified_gmt":"2023-12-11T18:58:41","slug":"germany-heading-for-another-poor-quarter-arduous-recovery-bundesbank","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=54318","title":{"rendered":"Germany heading for another poor quarter, “arduous” recovery: Bundesbank"},"content":{"rendered":"
\n

FRANKFURT (Reuters) – Germany’s economy will likely shrink again this quarter and its recovery will be arduous, even if there are some signs an improvement could come early next year, the Bundesbank said in a monthly economic report on Monday. <\/p>\n

Suffering a deep industrial recession, Germany has been among the weakest economies in Europe this year as high energy costs, weak global orders and higher interest rates took their toll.<\/p>\n

“Economic output is likely to once again decline slightly in the fourth quarter of 2023,” the Bundesbank said about the 20-nation currency bloc’s biggest economy. “The German economy is set to recover only arduously from the period of weakness that has persisted since the outbreak of war against Ukraine.”<\/p>\n

Germany recorded quarterly economic growth just once this year and indicators in the final three months of the year have mostly surprise on the downside. <\/p>\n

Still, the central bank was cautiously optimistic about next year, pointing to high employment, strong wage growth and stabilising sentiment indicators.<\/p>\n

“Tentative signs of a slight improvement after the turn of the year are beginning to emerge,” the Bundesbank said. “The underlying trend in new orders suggests that foreign demand may have bottomed out.”<\/p>\n

Still, it also warned that there is no evidence of a sustained improvement in global industrial activity, with surveys pointing to a drop in new orders and weak demand overall.<\/p>\n

German firms’ order books are slowly being reduced and this too could be a drag on the output, the bank added. <\/p>\n

The boost will instead come from households, who may be cautious initially in spending their cash but rising net incomes will eventually fuel a rise in real consumption. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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