The German economy is likely to have expanded in the last quarter on a rebound in industrial production, the Bundesbank said in a monthly report on Monday, revising its previous prediction of a small contraction.
The euro zone's biggest economy has struggled for much of the past year as sky-high energy prices weighed on its vast industrial sector, but a modest rebound has been under way since gas prices fell back, boosting hopes that a recession can be avoided.
Falling gas prices supported energy intensive industries while supply bottlenecks continued to ease, car demand picked up and construction also got a boost, even if that was partly due to mild weather. High employment should also keep supporting consumption, and unemployment is likely to fall slightly in the coming month, the bank added.
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