The Bundesbank (Buba) predicted in its report released on Tuesday the German economic output might experience slight growth in the third quarter of 2024.
In its monthly statement, Germany's central bank projected a rise in private consumption and services, and a decline in construction and industry, linking the latter to a weak foreign demand. It also said inflation could increase as the year nears its end, adding that the prices for services advanced sharply during the summer and slowed down for industrial goods excluding energy.
Additionally, Bundesbank said the country's gross domestic product (GDP) decreased slightly in the previous quarter, mostly due to bleak industrial production. Moreover, it noted almost no change in the labor market as the rise in immigration contributed to the increase in both employment and unemployment.
