According to estimates by the Bundesbank, the German economy will continue to grow in the second quarter despite the consequences of the Ukraine war. “In the spring of 2022, the German economy is likely to grow slightly,” said the Bundesbank. According to surveys in April and May, companies were significantly more satisfied with their business situation than in the winter quarter. Service providers such as the hospitality industry also benefited from the lifting of the corona restrictions. In the first quarter, gross domestic product (GDP) increased slightly by 0.2 percent compared to the previous quarter thanks to rising investments. According to the Bundesbank, however, the retail sector got off to a bad start in the second quarter. Intensified delivery bottlenecks due to the closure of ports in China would have caused a burden. In addition, consumers held back on their purchases due to the surge in inflation and the uncertainty caused by the war in Ukraine.
Second quarter – Bundesbank sees growth – economy
