DIW
Signs of economic recovery
Berlin (dpa) - The German economy is showing signs of recovery. According to the German Institute for Economic Research (DIW), inflation is easing, disposable incomes are rising and an initial interest rate cut by the European Central Bank is on the horizon.
"It may still be a little too early for spring fever, but the outlook is much better than recently," said Geraldine Dany-Knedlik, head of the DIW's Forecasting and Economic Policy department. "The economy should stabilize in the coming months." The situation has improved significantly in the service sector in particular. According to surveys, the industry is expecting sales to rise in the coming months. The reason for this is the rising buying mood among consumers.
According to the DIW, however, the mood in industry is somewhat more subdued. "Although industrial production increased across all product groups in January and February after a weak year in 2023, it was still far from making up for the losses of recent years," the institute reported. Incoming orders also remained at a low level.
The institute's current economic barometer rose for the second month in a row to 92.9 points. "The neutral 100-point mark, which indicates average growth in the German economy, is coming back into sight," the DIW added. According to the DIW, this mark corresponds to an average growth in gross domestic product of around one third of a percent.
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