German economy likely still weak in Q3, says econ ministry
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FILE PHOTO: The financial district with the headquarters of Germany's largest business bank, Deutsche Bank (C), is photographed on early evening in Frankfurt, Germany, January 29, 2019. REUTERS/Kai Pfaffenbach/File Photo
BERLIN (Reuters) - Current economic indicators point to continued weakness in the German economy in the past quarter, the economy ministry said in its monthly report on Monday.
"The weak economic phase is likely to continue in the second half of 2024 before growth momentum gradually picks up again in the coming year," said the report.
The federal statistics office is scheduled to release preliminary data for third-quarter gross domestic product at the end of this month.
Recovery in Europe's largest economy will be initially driven by private consumption picking up again, before exports increase over the course of the year as foreign demand picks up and there is a trend reversal in investment growth, it added.
(Writing by Miranda Murray; editing by Matthias Williams)
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