The German economy grew in the second quarter after restrictions were lifted due to the covid-19 pandemic, but inflation slowed consumption, as published by the Bundesbank on Monday.
In their June monthly bulletin, the Bundesbank economists say that “in the spring of 2022 the German economy may grow a little.”
The lifting of restrictions on social life has boosted the gastronomy sector. Thus, in April the industry recovered a small part of the production lost in March.
But overall, the Bundesbank notes that the industry still faces supply problems and material shortages, as well as rising energy costs.
For this reason, he rules out that the contribution to the growth of the industry will be considerable.
The war in Ukraine is going to slow down the growth of the German economy and trigger inflation, as reflected in the semi-annual forecasts published on June 10th.
The Bundesbank forecasts growth of 1.9% this year and 2.4% in 2023.
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