The German economy grew 3.7% in the first quarter, beating expectations

The German economy grew 3.7% yoy in the first quarter of questyear, slightly exceeding expectations by 3.6%.

German quarterly growth was 0.2%, compared to analysts’ expectations of 0.1%.

As for the Eurozone, the annual growth was 5% in in line with expectations, while quarterly growth was 0.2% compared to an expectation of 0.3%.

Inflation data in thearea of the euro showed an increase to 7.5%, in in line with expectations.

Inflation in Germany rose to its highest level in 40 years, according to official data, reaching 7.4% in April.

The increase was mainly due to the leadership in energy prices following the Russian-Ukrainian war.

In this context, the German Ministry of Economy predicts that inflation will be in media by 6.1% in 2022 before slowing to 2.8% next year.

Read More About: Business News