The German economy managed to avoid a recession at the start of the year, according to preliminary data from the statistics office. While the country’s gross domestic product (GDP) increased by only 0.2% on the previous three-month period in adjusted terms, this growth was higher than what analysts had predicted, with many expecting only a 0.1% increase.
However, data from the statistics office also showed a revision in the numbers for the last quarter of the previous year. The contraction in the economy during that period was revised to 0.5%, up from the previously reported 0.3% slump. This shows that the German economy has faced some challenges in recent months but managed to rebound with growth in construction and exports.
Despite these fluctuations in growth, overall, the German economy remains stable. The slight increase in GDP at the beginning of the year is a positive sign for the country’s economic outlook as it continues to recover and there may be opportunities for further growth and development in coming months.