Germany's economic slowdown is likely to be short-lived as the biggest euro area economy's prospects have improved at the beginning of the year, Bundesbank said in a monthly report on Monday.
On December 7, the Bundesbank trimmed its German growth forecast for this year to 0.4 percent from 1.6 percent.
Growth is seen picking up to 1.9 percent in 2014. business sentiment has improved, especially the view on export prospects, the central bank said.
"The broadly stable labor market and better employment outlook indicate that the economic weakness will not last long," the bank said.
Signs of a recovery are already visible in the first quarter of 2013, it added.
The Germany economy contracted 0.5 percent in the final quarter of 2012, preliminary data from the statistical office showed last week.
The German government slashed its 2013 growth forecast to 0.4 percent from 1 percent on January 16.
rttnews.com
On December 7, the Bundesbank trimmed its German growth forecast for this year to 0.4 percent from 1.6 percent.
Growth is seen picking up to 1.9 percent in 2014. business sentiment has improved, especially the view on export prospects, the central bank said.
"The broadly stable labor market and better employment outlook indicate that the economic weakness will not last long," the bank said.
Signs of a recovery are already visible in the first quarter of 2013, it added.
The Germany economy contracted 0.5 percent in the final quarter of 2012, preliminary data from the statistical office showed last week.
The German government slashed its 2013 growth forecast to 0.4 percent from 1 percent on January 16.
rttnews.com
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