Following the publication of IFO’s latest German business survey, institute economist Klaus Wohlrabe has said that the economy is expected to show a slight contraction in the first quarter.
Additional comments:
German GDP should contract 0.7% qoq in the first quarter.
German industry is very strong, the order books have been filled.
In the manufacturing industry there are signs of recovery.
The Export expectations have skyrocketed due to strong demand from the United States and China.
In the services sector, sentiment has improved significantly.
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