German economy avoids recession in Q1

Preliminary data from the Federal Statistical Office released on Tuesday indicated that the German economy narrowly avoided a recession at the outset of this year, experiencing slight but better-than-expected growth, propelled by exports and investments in the construction sector.

In the first quarter, the economy saw a modest expansion, with gross domestic product (GDP) increasing by 0.2 percent compared to revised data from the previous three-month period.

Analysts surveyed by Reuters had anticipated German GDP growth of 0.1 percent, making the actual growth slightly surpass expectations.

The Census Bureau also revised the data for the fourth quarter of last year, revealing a contraction of 0.5 percent, compared to the previously estimated decline of 0.3 percent.