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No sustained recovery on horizon for German economy -econ min

by Uma
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2023 08 14T085811Z 1 LYNXMPEJ7D09W RTROPTP 4 GERMANY ECONOMY INFLATION

No sustained recovery on horizon for German economy -econ min

BERLIN (Reuters) – Germany’s economy is not likely to see a sustained recovery in the coming months based on early indicators such as new orders and business climate, the economy ministry said on Monday.

“On the domestic front, the expected cautious recovery in private consumption, services and investment is showing the first signs of hope, which are likely to strengthen as the year progresses,” said the ministry in its monthly report.

“At the same time, the still weak external demand, the continuing geopolitical uncertainties, the still high rates of price increases and the increasingly noticeable effects of monetary tightening are dampening a stronger economic recovery.”

 

(Writing by Miranda Murray, Editing by Rachel More)