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Germany Expected to Avoid Recession
The German economy, which contracted 0.6% in the final three months of 2012, will expand slightly in the January-March period, the Bundesbank predicts.
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The German economy, which contracted 0.6% in the final three months of 2012, will expand slightly in the January-March period, the Bundesbank predicts.
A recession is defined as two consecutive quarters of contraction. The central bank did not provide a specific forecast for the current quarter.
The outlook for Germany's economy has improved in "remarkable" fashion in the past three months, the central bank declares. The Bundesbank expects country's economy to pick up gradually in 2013 despite severe recessions in other eurozone countries thanks to reviving domestic consumer demand and industrial activity.
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