After the disappointments that arrived this morning from the industry – with the PMI indices on manufacturing and services lower than expected –, in the afternoon, Germany regains its smile thanks to the new forecasts of the Bundesbank. According to the central institute, the German economy will grow significantly in the first quarter of 2014, after going better than expected at the end of 2013. The expansion should then be more contained between April and June.
“The upward trend of orders to the industry and expectations on production very optimistic for the first quarter of the year, already confirmed in January - reads the latest monthly bulletin of the Bank -, as well as the situation ofmanufacturing industry, which continues to improve portend a very strong GDP growth in the first quarter".
GDP growth"in the second quarter it will instead be more contained”, continue the Buba experts, pointing out that the Federal Statistical Institute should revise upwards the GDP trend for the fourth quarter of 2013, so far indicated at +0,4%, considering that “in the meantime important indicators such as industrial production and fourth quarter constructions were revised upwards”.
