The German economy is likely to recover slightly in the second quarter of 2023, according to the monthly report released on Monday by the Deutsche Bundesbank.
Despite the "weak economic" performance, the labor market remained stable. Nevertheless, the notable employment growth of the previous months stalled in May, the report added.
Meanwhile, industry and construction could not expand their production compared to the previous quarter. Industry alone was slowed down by weakening foreign demand, and the mood of firms deteriorated.