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German economy sees growth in Q1 despite war, pandemic -Breaking

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© Reuters. FILE PHOTO – The Frankfurt skyline and its financial district are photographed at sunset, as the spreading of coronavirus (COVID-19), continues in Frankfurt, Germany. October 26, 2020. REUTERS/Kai Pfaffenbach/File photo

BERLIN, (Reuters) – The German economy grew in Q1 in line to expectations, despite adverse economic conditions resulting from the conflict in Ukraine and the pandemic. Data were revealed on Wednesday.

According to the Federal Statistics Office, Europe’s biggest economy experienced a 0.2% increase quarter-on-quarter and 3.8% growth year over year. This was adjusted for prices and calendar effects. A Reuters poll forecasted growth of 0.2% to 3.7%.

Georg Thiel (president of the statistical office) stated that “despite the challenging global economic environment, the German economy began the year 2022 in slight growth.”

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