German economy to return to growth, says Bundesbank
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Germany will avoid recession and return to growth in the first quarter of 2013, the country's central bank has said.
The Bundesbank's monthly report for February forecast that the rest of 2013 will see a gradual pick-up in activity in Europe's biggest economy.
If the economy shrank again in the current quarter, Germany would technically be in recession, defined as two quarters of contraction.
The economy shrank by 0.6% in the last three months of 2012.
"As it currently looks, a plus in economic output can be expected in the first quarter of this year," the Bundesbank said.
The report continued: "For the rest of this year, the economy is expected to pick up gradually, even if the external economic environment will provide no trigger for a sharp surge in demand."
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