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4/19, 12:27 PM (Source: TeleTrader)
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Buba: German economic output down in Q1

The German Federal Bank published its monthly report for April on Monday, revealing that the country's total economic output declined in the first quarter of the year majorly due to the prolonged coronavirus-related restriction measures.

The industrial production also fell in February, the report noted, remaining around 3% below the pre-crisis levels. However, no issues with demand have been detected so far. Similarly, the construction output recorded a drop and was 7.5% lower compared to the previous quarter.

The Bundesbank concluded that consumer prices continued to rise during February and March, with higher inflation expected from the second quarter of the year.

Breaking the News / ND