Germany’s central bank, the Deutsche Bundesbank, has recently moved its headquarters from Mainzer Landstrasse 46 in Frankfurt/Main to a new location due to renovations. The economic outlook for the country is gradually improving, as reported by the Bundesbank. According to their latest report, economic output is expected to increase slightly in the second quarter after a small rise at the beginning of the year.
The underlying trend indicates that the economy is gaining momentum and there are positive signs from both service providers and private consumption in the second quarter. The ifo Institute’s survey results suggest that rising real disposable household incomes will likely outweigh consumer uncertainty. However, the industrial economy is still expected to remain subdued for a while longer.
Preliminary data from the Federal Statistical Office shows that Germany grew by 0.2% in the first quarter compared to the previous period. While last year saw a slight recession with a decline of 0.2%, due to global economic slowdown, high energy prices and increased interest rates, this year’s growth is expected to continue positively.
The Bundesbank anticipates an increase in inflation rate in May and expects it to remain slightly higher in coming months. To ensure stability and growth in the German economy, they are closely monitoring economic developments and making necessary adjustments as needed.
