The German economy — Europe’s largest — is set to avoid a winter recession thanks to a pick-up in manufacturing, rising exports and surging construction at the start of the year, according to the Bundesbank.
After warning just four weeks ago that output probably shrank for a second straight quarter between January and March, the central bank said the period may, in fact, have seen a “slight increase.” It did, though, caution that a sustained recovery isn’t assured.